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‘I Have Zero Interest in Investing in Litigation Against SEC’ – Regulation Bitcoin News

Kevin O'Leary on SEC v Ripple Lawsuit Over XRP: 'I Have Zero Interest in Investing in Litigation Against SEC'
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Shark Tank star Kevin O’Leary, aka Mr. Wonderful, he’s never interested in investing in anything through SEC litigation. “This is a very bad idea,” he said. While discussing the SEC’s lawsuit against Ripple over XRP, he asserted: “I have no interest in being a crypto cowboy… I have to comply.”

Kevin O’Leary says he shouldn’t bother the organisers

Shark Tank star Kevin O’Leary, president 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 preferred to consult with regulators regarding cryptocurrency in order to find out “what is possible and what is not.”

Commenting on the lawsuit brought by the US Securities and Exchange Commission (SEC) against Ripple over the sale of XRP, O’Leary asserted:

I have no interest in investing in litigation against the SEC. This is a very bad idea.

The Securities and Exchange Commission (SEC) has filed a lawsuit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen, over the $1.3 billion sale of XRP tokens, claiming it was an unregistered securities offering. Ripple and its executives have argued that XRP is not a security.

Garlinghouse recently said he expects the lawsuit to end next year, noting “we’re seeing good progress.” Even the CEO of Nasdaq-listed Coinbase, Brian Armstrong, believes the lawsuit is going better than expected.

However, O’Leary said he prefers compliance with regulators “because that’s where the real capital is.” He emphasized:

I have no interest in being a crypto cowboy and making anyone unhappy with me because… I have a lot of real world assets that I have already invested in and I have to stick with them.

Mr. Wonderful is also not keen on crypto-meme. He said in July that he would not invest in the popular Dogecoin (DOGE), noting “I don’t understand why anyone would do that.”

However, the cryptocurrency now accounts for about 10% of his portfolio. His exposure to cryptocurrencies exceeded his exposure to gold for the first time in early October. In September, the Shark Tank star said he expects an additional $1 trillion to flow into bitcoin.

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

Kevin Helms

Kevin, an Austrian economics student, found Bitcoin in 2011 and has been a missionary ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

photo credits: Shutterstock, Pixabay, Wikicommons

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