Kevin O’Leary says the crypto market downturn goes beyond Bitcoin’s price decline and is driven largely by the lack of regulatory clarity in the United States. In his view, this uncertainty is slowing the adoption of stablecoins and blockchain by major financial institutions, which are reluctant to invest until the applicable rules are clear. His company already uses Circle’s USDC for treasury management and cross-border settlements, while other companies are waiting for their compliance teams to understand the regulatory landscape. O’Leary points to the GENIUS Act, which he considers a fait accompli, and the CLARITY Act, which he says is needed for the rest of the industry. He has previously identified regulatory uncertainty and the growing threat of quantum computing as obstacles to institutional investment in Bitcoin.
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