In an interview with CNBC’s Capital Connect, Shark Tank star Kevin O’Leary expressed his thoughts on the lengthy legal battle between the Securities and Exchange Commission (SEC) and Ripple Labs. Accordingly, O’Leary seems to lean towards the SEC by saying that betting against the regulator is like walking a thin line.
Shark Tank star Kevin O’Leary
Shark Tank star has no interest in investing in Ripple cause it is tied up in litigation
O’Leary has said that he has no interest in investing in cryptocurrencies tied up in litigation. He does not want to be a cryptocurrency cowboy in backing the wrong horse, and the best route is to consult with regulators before taking the plunge.
“I have zero interest in investing in litigation against the SEC. That is a very bad idea,” said O’Leary. He added that the best route was to reason with regulators to identify what is possible and what is not. He said that compliance is necessary because the real capital is. “I have no interest in being a crypto cowboy and getting anybody unhappy with me because I have so many assets in the real world that I’ve invested in already that I have to be compliant,” said the veteran investor.
As you all know, the SEC is taking legal action against Ripple Labs and two executives for conducting an unregistered securities offering worth $1.3 billion. Since the start of the year, the lawsuit has harmed XRP price as XRP shows little sign of regaining its previous all-time high of $3.84.
Not stopping there, O’Leary will reveal that he views CBDCs like China’s digital yuan with a lot of skepticism. The pessimism stems from the fact that he does not know how the issuing country runs its blockchains.
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