Shark Tank’s Kevin O’Leary: Lots Of Change Coming For Crypto Soon!
Shark Tank’s Kevin O’Leary: Lots Of Change Coming For Crypto Soon!
Billionaire and venture capitalist popularly known for his role as an investor in Shark Tank, Kevin O’leary explains in a recent interview that he predicts there to be lots of new changes coming for the crypto market coming very soon.
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In an interview with YouTube channel Meet Kevin, the billionaire explains that during the World Economic Forum annual meeting next year, world leaders will be shifting their attention and focus onto digital assets like cryptocurrencies and especially Stablecoins.
O’leary explains, “This year, you’re going to see crypto at the top of the list of what is being discussed by global bankers…, specifically around payment systems where we talk about ACH transfer between banks or Swift transfer internationally. These were private sector innovations decades ago that were heavily regulated by global governments and for the first time now, products like stablecoins could really disrupt that at a significantly faster, more productive, more transparent, more auditable – but above all – far less expensive system for transferring global assets.”
Related: Bloomberg Strategist Predicts Rallies for ETH Saying It is Poised to Change Financial Technology
More On Stablecoins
O’leary also went on to explain that the Stablecoin Transparency Act, which aims to improve the transparency of stablecoin issuers will also be something that will be heavily discussed among global leaders soon.
“You’re going to see companies like Circle headline at that event. You’re going to see a lot of crypto-based conversation at a global level with global governments as they struggle to find some kind of policy and regulation and that bill, the Stablecoin Transparency Act, is at the forefront of that.” He stated.
“That [Stablecoin Transparency Act] is a bipartisan U.S bill that I think could be marked up by the time we get to that place because it’ll be after the midterms on November 8th, which is going to be significant for crypto policy.”
“I think what will happen in the house will help crypto policy, but I think all of this is going to be really fascinating and why everybody should stay on their toes— lots of change coming.” The billionaire stated.
Related: FTX Is Developing Its Own Stablecoin: CEO Sam Bankman-Fried
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