Venture capitalist Kevin O’Leary is predicting that an upcoming meeting of world leaders will put crypto in the limelight.
In a new interview, the Shark Tank investor says that digital assets will be one of the top issues that will be tackled during the World Economic Forum annual meeting that will take place in Davos, Switzerland in January next year.
“This year, you’re going to see crypto at the top of the list of what is being discussed by global bankers, specifically around payment systems where we talk about ACH transfer between banks or Swift transfer internationally. These were private sector innovations decades ago that were heavily regulated by global governments and for the first time now, products like stablecoins could really disrupt that at a significantly faster, more productive, more transparent, more auditable – but above all – far less expensive system for transferring global assets.”
He says that stablecoins will be an important part of the crypto-related discussions, including the Stablecoin Transparency Act, which aims to improve the transparency of stablecoin issuers like Circle and Tether.
“So you’re going to see companies like Circle headline at that event. You’re going to see a lot of crypto-based conversation at a global level with global governments as they struggle to find some kind of policy and regulation and that bill, the Stablecoin Transparency Act, is at the forefront of that.
That is a bipartisan U.S bill that I think could be marked up by the time we get to that place because it’ll be after the midterms on November 8th, which is going to be significant for crypto policy…
I think what will happen in the house will help crypto policy, but I think all of this is going to be really fascinating and why everybody should stay on their toes— lots of change coming.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tatkhagata/Mingirov Yuriy