“I have no interest in investing in litigation against the SEC” – Bitcoin Regulation News

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Shark Tank star Kevin O’Leary aka Mr. Wonderful has said he has no interest in investing in anything with a US Securities and Exchange Commission (SEC) litigation. “It’s a really bad idea,” he said. Discussing the SEC’s lawsuit against Ripple over XRP, he pointed out, “I have no interest in being a crypto cowboy… I have to be compliant.”

Kevin O’Leary says he shouldn’t bother regulators

Shark Tank star Kevin O’Leary, Chairman of O’shares ETF, spoke about cryptocurrency, bitcoin, XRP, the Ripple lawsuit and crypto regulation in an interview with CNBC published Friday.

He explained that he prefers to consult with cryptocurrency regulators to find out “what is possible and what is not.”

Commenting on the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple over the sale of XRP, O’Leary noted:

I have no interest in investing in litigation against the SEC. That’s a very bad idea.

The SEC sued Ripple, its CEO Brad Garlinghouse and co-founder Chris Larsen over the sale of $ 1.3 billion in XRP tokens, claiming it was an unregistered securities offering. Ripple and its executives have argued that XRP is not security.

Garlinghouse recently said he expects the lawsuit to be successful next year, noting: “We are seeing very good progress.” Even CEO of Coinbase, the Nasdaq-listed cryptocurrency exchange, Brian Armstrong, believes the lawsuit is going better than expected.

However, O’Leary said he preferred to comply with regulators “because that’s where the real capital is.” He underlined:

I have no interest in being a crypto cowboy and making someone unhappy with me because… I have so many real world assets that I have already invested in that I have to be compliant.

Mr. Wonderful also doesn’t like cryptocurrencies even. He said in July that he would not invest in the popular crypto dogecoin (DOGE) meme, noting: “I don’t understand why anyone would.”

Nonetheless, cryptocurrency now accounts for around 10% of its portfolio. Its crypto exposure exceeded its gold exposure for the first time in early October. In September, the Shark Tank star said he expected an additional $ 1 trillion to be invested in bitcoin.

What do you think of Kevin O’Leary’s comments? Let us know in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons

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