Shark Tank star Kevin O’Leary explained how the regulators will regulate the stablecoins. And claimed that regulators will follow traditional ways like a Bank and will issue a license for them.
In the present time, Stabelcoins like USDT, USDC and other coins are challenging the Monetary policies and their innovation with traditional technology. Regulators are working at their best to bring the adoption of blockchain technology but stablecoins are raising big issues over their operations. But in a recent interview O’Leary shared his stances on how regulators will regulate the stablecoins.
Kevin O’Leary is a Millionaire investor and Shark Tank star. Recently he appeared in an interview with Kitco News.
According to Kevin, existing technology needed to upgrade and the blockchain technology based stablecoins are doing their best to bring innovation.
No matter how much the regulators are worried about the growth of stablecoins but regulators or any government will not say no to such innovations.
Kevin believes that there is a very high probability that regulators will regulate the stablecoins just link traditional banks. Regulators will regulate the operations of the stablecoins issuers like Tether, Circle etc.
And also Kevin believes that this way regulation will be a perfect option and probably they will also adopt the same. But here we don’t think that it will be a sudden change or decision.
Kevin also said that it will be better if the regulators will bring regulation on stable coins and other crypto assets markets because this will give full clarity on the rules and regulation and that will push the investors to go with crypto Investment with more clarity.
Unclear regulation, problem for institutional investors
A recent report we covered, where the Citadel firm CEO claimed that they are aware about the potential of crypto and also they want to go with crypto based products for their Investors. But due to uncertainty of the rules and regulation of the regulators, they are not willing to go with the crypto exposure.
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