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- Business Tycoon Kevin O’Leary disclosed that he is discussing with the US lawmakers and working together to pass crypto-friendly regulations.
- The Shark Tank star visited a bipartisan group of lawmakers hosted by Republican Senator Cynthia Lummis of Wyoming. He revealed that these regulations, O’Leary told, will open digital markets to the blue-chip investors.
- Senator Lummis, who hosted the bipartisan meeting of Kevin O’Leary with US lawmakers, last month suggested the Federal Reserve add Bitcoin to its balance once it is regulated.
Shark Tank investor Kevin O’Leary reveals that he is in talks with US lawmakers and working on passing crypto-friendly regulations that enable blue-chip investors to take part in the digital assets market.
The business tycoon reveals on his Twitter account, which has a following of 870,700 that he visited a bipartisan group of lawmakers hosted by Republican Senator Cynthia Lummis of Wyoming, a huge advocate of cryptocurrencies, to talk regarding crypto legislation.
He shared about his day at the Senate. He revealed he met with “a bipartisan group of policymakers who get the joke on crypto.” The policymakers are working on a policy to open these markets to institutional investors.
“Thank you, Senator Lummis, for hosting my bipartisan meeting with Senators on The Hill to discuss crypto policy. The good news is they are all over it and agree there is a tremendous opportunity once they pass policy,” Kevin further added.
All the details regarding the policy are yet not revealed.
Senator Suggests Federal Reserve Add Bitcoin To Its Balance
Last Month, Senator Lummis put forward the proposal in front of the Federal Reserve to add Bitcoin to its balance after the flagship currency is regulated, giving the argument that Bitcoin will soon be everywhere because of its decentralized nature.
In previous stances also, the Senator called Bitcoin a powerful store of value rather than a means of exchange; Lummis says the American citizens add the famous digital asset into their retirement savings strategy.
Meanwhile, the Shark Tank Star O’Leary was skeptical about cryptocurrencies, just last year, he had a change of mind, and he began adding them to his portfolio. He has now acknowledged the potential of crypto-assets and believes in their “exceptional growth.”
He said that all blockchains, including Bitcoin, Ethereum, Polygon, are software. The growth rate of these latest inventions is “phenomenal”, and people around the world are providing funds to it.
ALSO READ: Ukraine Uses Donated Crypto to Pay for Military Supplies
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
