{"id":4345,"date":"2022-05-22T15:45:43","date_gmt":"2022-05-22T15:45:43","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=4345"},"modified":"2022-05-22T15:45:43","modified_gmt":"2022-05-22T15:45:43","slug":"kevin-oleary-expects-us-crypto-regulations-to-come-out-after-midterm-elections","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=4345","title":{"rendered":"Kevin O&#8217;Leary Expects US Crypto Regulations to Come Out After Midterm Elections"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>Shark Tank star Kevin O\u2019Leary, aka Mr. Wonderful, says U.S. crypto regulations will not come out until after the midterm elections. He explained that President Joe Biden \u201cis not interested in discussing crypto\u201d when his approval ratings have sunk to record lows. O\u2019Leary also cited <\/strong><strong>other factors, including double-digit inflation and high food and gas prices.<\/strong><\/p>\n<h2>Kevin O\u2019Leary on Crypto Regulation, Biden\u2019s Policy<\/h2>\n<p>Shark Tank star Kevin O\u2019Leary talked about bitcoin and cryptocurrency regulation in an interview with Stansberry Research, published Friday.<\/p>\n<p>He was asked how far away the U.S. Securities and Exchange Commission (SEC) is from approving a spot bitcoin exchange-traded fund (ETF).<\/p>\n<p>\u201cIt\u2019s a long way away,\u201d O\u2019Leary replied. \u201cThat\u2019s not what\u2019s going to happen first. I think what\u2019s going to happen first is we are going to see policy on stablecoins.\u201d He cited two bills that have been proposed for the regulation of stablecoins. One was introduced by Senator Bill Hagerty and the other by Senator Pat Toomey.<\/p>\n<p>Noting that a bill on stablecoins will be easy to pass after the midterm elections, he emphasized:<\/p>\n<p>Nothing\u2019s gonna happen until after the midterms. Biden is not interested in discussing crypto when his poll ratings are, you know whatever it is, sub-31%. That\u2019s not a place where he wants to go, so you\u2019re gonna have to wait until after the midterms.<\/p>\n<p>Mr. Wonderful noted that when Biden issued the encouraging executive order on crypto, his ratings were higher. A new poll shows that President Joe Biden\u2019s approval rating dipped to the lowest point of his presidency in May; only 39% of U.S. adults approve of his performance as president.<\/p>\n<p>The U.S. midterm elections are scheduled for Nov. 8. If the Republican Party gains control of either or both chambers, it will have the power to thwart the president\u2019s plans.<\/p>\n<p>O\u2019Leary explained that crypto is not one of the \u201cissues that when you are declining in the polls, you become a champion of. That doesn\u2019t help you.\u201d<\/p>\n<p>Noting that \u201cThe market is correcting \u2026 People are getting gas at the pump, going to the driving season, at unheard-of prices the last 20 years. The price of protein\u2019s up 20% to 40%,\u201d the Shark Tank star said:<\/p>\n<p>Biden\u2019s facing close to double-digit inflation \u2026 He\u2019s not sitting around worrying about crypto.<\/p>\n<p>In addition, O\u2019Leary described that there are a lot of different proposals coming out of the SEC around climate change, crypto, and bitcoin mining. \u201cSo it\u2019s a very volatile situation right now,\u201d he said.<\/p>\n<p>Mr. Wonderful was also asked if he thinks this crypto winter will be a long one and where the market will head now.<\/p>\n<p>\u201cThe forecasts for bitcoin have never been accurate. No one\u2019s been able to forecast its volatility,\u201d he opined. \u201cAnd you know, the speculation that it was going to be a hedge against inflation was just flat out wrong.\u201d He continued:<\/p>\n<p>I\u2019d argue that the volatility of bitcoin is going to remain very akin to what Amazon was for the first 15 years \u2014 30% to 50% corrections every 12 months.<\/p>\n<p>He explained the reason was that \u201cThere was no institutional support in the early days of Amazon.\u201d The Shark Tank star asserted: \u201cThat\u2019s the same right now for bitcoin \u2026 People talk about institutions owning it. That\u2019s just not true. They don\u2019t own any of it and they won\u2019t until the SEC rules on it.\u201d<\/p>\n<p>Tags in this story<\/p>\n<p>biden ratings, bitcoin spot etf, high food price, high gas price, inflation, Joe Biden, kevin o&#8217;leary, kevin o&#8217;leary bitcoin, kevin o&#8217;leary crypto, kevin o&#8217;leary cryptocurrency, Kevin o\u2019leary biden, midterm elections, midterms, midterms crypto, SEC, Stablecoins<\/p>\n<p><em><strong>What do you think about the comments by Kevin O\u2019Leary? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/kevin-oleary-expects-us-crypto-regulations-to-come-out-after-midterm-elections\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shark Tank star Kevin O\u2019Leary, aka Mr. Wonderful, says U.S. crypto regulations will not come out until after the midterm elections. He explained that President Joe Biden \u201cis not interested in discussing crypto\u201d when his approval ratings have sunk to record lows. O\u2019Leary also cited other factors, including double-digit inflation and high food and gas [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-4345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4345"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4345\/revisions"}],"predecessor-version":[{"id":4347,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4345\/revisions\/4347"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/4346"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}