• Kevin O’Leary of “Shark Tank” fame is concerned about the U.S. government’s attitude towards crypto regulation.
• He believes the government needs to implement the right rules to ensure the industry is safe and sound for all.
• He also stresses that crypto companies should use clean energy in order to avoid causing environmental harm.
Kevin O’Leary on Crypto Regulation
Kevin O’Leary, of „Shark Tank“ fame, is worried about how the U.S. federal government is dealing with cryptocurrency regulations. He believes that policy should be at the forefront of any regulatory moves and not quick-fire solutions that hurt innovation in the space.
Policy Over Fast Action
O’Leary thinks it’s important for the U.S. government to focus on policy implementation rather than taking fast action when it comes to crypto regulation. He stated: „I’m not looking for the federal government to provide innovation, I’m looking for them to provide policy“. O’Leary believes licensing multiple stable coins backed by the U.S dollar would be a good first step towards regulating this ever-growing industry safely and effectively.
Clean Energy Use
In addition, O’Leary has been vocal in his opinion that more action must be taken to ensure all crypto companies are running on clean energy sources, such as hydro or nuclear power instead of carbon offsets as some have done in the past years. This sentiment was echoed by other big names like Elon Musk who recently suggested Tesla customers should be able to buy vehicles with Bitcoin – an idea he later retracted due to environmental concerns surrounding crypto mining operations consuming large amounts of energy resources worldwide .
The Writing On The Wall
O’Leary is adamant that if crypto companies do not take steps soon, then our planet will suffer heavily from their actions: „We have to listen to these people and realize we can’t mine coins using carbon offsets…I see the writing on the wall and it’s not pretty.“ It seems clear that strong regulations need to be implemented before irreparable damage occurs due to unchecked mining activities around the world – something which Kevin O’Leary has been vocal about since early 2021 when he decided he would no longer buy any cryptocurrency mined in China due its poor record with renewable energy sources..
Cryptocurrency mining continues at a rapid pace but now more than ever there are calls for regulations and policies which protect our environment from further damage caused by unregulated mining operations worldwide – something which Kevin O’Leary has been advocating since early 2021 and continues today as governments look into regulating this ever growing industry safely and effectively while protecting our planet from further harm caused by unchecked activities within it .