Kevin O’Leary: “I will not invest in cryptocurrencies, if they are not approved by the regulators " – Bits Media

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Кевин О’Лири: «я не буду вкладывать в криптовалюты, если их не одобряют регуляторы» - Bits Media

Entrepreneur Kevin O'Leary said, that he will not invest in crypto assets until then, until they are controlled by regulatory authorities.

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CNBC interview Kevin O'Leary (Kevin O’Leary) urged the US government to develop regulations as soon as possible for cryptocurrency market. O'Leary believes, that in the absence of clear regulations there are few financial institutions, ready to become participants in this industry, otherwise it would be recklessness. According to the entrepreneur, companies cannot afford to invest in questionable instruments, risking being "out of the game".

"Departments must make decisions on cryptocurrencies, because people and firms, financial services workers, don't want to look “dashing”, investing in unregulated products. Personally, I don't want to mess with cryptocurrencies, if the regulatory authorities are wary of them ",- said O'Leary.

He suggested, what if regulators recognized cryptocurrencies as assets and allowed the launch of exchange-traded funds (ETF), tied to cryptocurrencies, companies will be ready to invest about a trillion dollars in bitcoin. Crypto ETFs Already Launched in Canada and Brazil. O'Leary believes, that the United States also has the opportunity to "open the way" to this investment product. However, the US Securities and Exchange Commission (SEC) have not yet approved any bitcoin or ether ETFs, and continues to consider applications for their launch from more than 20 firms.

"I think, that the SEC will approve cryptocurrency ETFs in the coming years, that's why investors show such great interest in them ", O’Leary added.

FROM 12 by 15 September conference is taking place in New York, organized by the founder of the SkyBridge investment company Anthony Scaramucci (Anthony Scaramucci). It discusses issues, related to the future of decentralized finance and cryptocurrencies. Besides, many organizations came to the conference, to discuss the topic of launching cryptocurrency ETFs in the US, said O'Leary.

O'Leary was previously known as a cryptocurrency critic. However, last year he
stated, what is ready to invest in BTC before 5% their funds, since bitcoin will always be "ahead of all cryptoassets".