\n<\/div>\n

Shark Tank star Kevin O\u2019Leary, aka Mr. Wonderful, says he has zero interest in investing in anything with litigation from the U.S. Securities and Exchange Commission (SEC). \u201cThat is a very bad idea,\u201d he said. Discussing the SEC lawsuit against Ripple over XRP<\/a>, he emphasized: \u201cI have no interest in being a crypto cowboy \u2026 I have to be compliant.\u201d<\/strong><\/p>\n

Kevin O\u2019Leary Says He Must Not Upset Regulators<\/h2>\n

Shark Tank star Kevin O\u2019Leary, the chairman of O\u2019shares ETF, talked about cryptocurrency, bitcoin, XRP<\/a>, Ripple\u2019s lawsuit, and crypto regulation in an interview with CNBC published Friday.<\/p>\n

He explained that he prefers to consult with regulators regarding cryptocurrency in order to find out \u201cwhat\u2019s possible and what isn\u2019t.\u201d<\/p>\n

Commenting on the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against Ripple over the sale of XRP<\/a>, O\u2019Leary stressed:<\/p>\n

\n

I have zero interest in investing in litigation against the SEC. That is a very bad idea.<\/p>\n<\/blockquote>\n

The SEC sued Ripple, its CEO Brad Garlinghouse, and co-founder Chris Larsen over the sale of $1.3 billion worth of the XRP<\/a> tokens, claiming that it was an unregistered securities offering. Ripple and its executives have argued that XRP<\/a> is not a security.<\/p>\n

Garlinghouse recently said that he expects the lawsuit to come to a conclusion next year, noting, \u201cWe are seeing pretty good progress<\/a>.\u201d Even the CEO of the Nasdaq-listed crypto exchange Coinbase, Brian Armstrong, believes that the lawsuit is going better than expected<\/a>.<\/p>\n

However, O\u2019Leary said that he prefers to comply with regulators \u201cbecause that\u2019s where the real capital is.\u201d He emphasized:<\/p>\n

\n

I have no interest in being a crypto cowboy and getting anybody unhappy with me because \u2026 I have so many assets in the real world that I\u2019ve invested in already that I have to be compliant.<\/p>\n<\/blockquote>\n

Mr. Wonderful is also not keen on meme cryptocurrencies. He said in July that he will not invest in the popular meme crypto dogecoin<\/a> (DOGE), noting, \u201cI don\u2019t understand why anybody would.\u201d<\/p>\n

Nonetheless, cryptocurrency now accounts for about 10% of his portfolio<\/a>. His crypto exposure exceeded his gold exposure<\/a> for the first time in early October. In September, the Shark Tank star said he expect a trillion dollars<\/a> more flowing into bitcoin.<\/p>\n

What do you think about Kevin O\u2019Leary\u2019s comments? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

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<\/a> 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<\/div>\n

\n