Veteran investor Kevin O’Leary said on Wednesday that regulatory clarity, including passage of the CLARITY Act, is needed before more companies commit to digital-asset infrastructure.
Adoption Has Stalled, Argues O’Leary
O’Leary shared on X a clip from his interview with FINTECH TV, where he argued that cryptocurrency sell-offs extend beyond Bitcoin (CRYPTO: BTC) and reflect broader hesitation among institutional users.
“Adoption of stablecoins and blockchain across institutions has stalled because companies are still waiting for regulatory clarity,” the “Shark Tank” star said.
O’Leary said that his holding companies use USDC (CRYPTO: USDC) for treasury management and cross-border settlements, but added that many other companies remain on the sidelines as their compliance teams await clearer rules.
He described the GENIUS Act as “a start” but said lawmakers must advance the CLARITY Act to unlock wider institutional participation in cryptocurrency markets.
Will O’Leary’s Prophecy Come True?
The cryptocurrency regulatory theme also appeared in O’Leary’s 2027 predictions.
Last week, he projected that the CLARITY Act would finally pass in 2027, emphasizing the importance of tokenization and modernizing financial infrastructure.
Kalshi bettors are pricing in a 25% chance that the key cryptocurrency legislation becomes law in 2027.
The bill failed a key Senate vote in September, falling short of the 60 votes needed to advance, as key Democratic negotiators who spent months on the bill voted no.
Democrats’ midterm victory and takeover of Congress could make it harder for the CLARITY Act to advance in the near term.
Price Action: As of this writing, BTC is down 0.30% in the last 24 hours to $73,482.51, according to Benzinga Pro.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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