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Speaking from Abu Dhabi and interviewed by CNBC, O’Leary, who is also the chairman of O’shares ETF, discussed developments in the crypto space, Bitcoin, XRP and Ripple’s lawsuit.
O’Leary stressed that he prefers to keep an open dialogue with regulators to understand “what’s possible and what isn’t,” stating:
“I have no interest in being a crypto cowboy and getting anybody unhappy with me because … I have so many assets in the real world that I’ve invested in already that I have to be compliant.”
Speaking on Ripple’s ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC) over the sale of XRP, O’Leary said to avoid Ripple’s native token:
“I have zero interest in investing in litigation against the SEC. That is a very bad idea.”
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On digital currencies pegged to national currencies, also known as “stablecoins,” O’Leary said he believes the biggest opportunity for stablecoins is with a currency tied to the U.S. dollar and that the U.S. should take the opportunity to lead the charge.
O’Leary concluded by stating that he is eager to understand where governments and regulators stand on rules for blockchain in finance, stating:
“That’s why I came here [Abu Dhabi], I wanna hear from the regulator what the plan is so that I can be involved in this because I am going to every jurisdiction that is forward thinking about decentralized finance.”
Ripple’s CEO Brad Garlinghouse is with O’Leary on the topic of regulatory clarity. Two weeks ago he said that that his company’s “proposed policy framework is a three-pronged approach of what can be done now,” and slightly sarcastically said it is the result of Ripple’s “direct interactions with regulators and bipartisan policymakers.”