Kevin O’Leary says the crypto market crash is not limited to Bitcoin’s decline, but also reflects a slowdown in the institutional adoption of stablecoins and blockchain in the United States. He argues that the lack of regulatory clarity is preventing major financial institutions from investing because their compliance teams do not know which rules to apply. His own company nevertheless uses Circle’s USDC for treasury management and cross-border settlements. O’Leary describes the GENIUS Act as progress, while saying the CLARITY Act is needed to cover other aspects of crypto regulation. He has previously identified regulatory uncertainty and the growing threat of quantum computing as major obstacles to institutional investment in Bitcoin.
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