"First pillar of legislation"- Shark Tank star Kevin O'Leary gives his opinions on the Stable Coin Act

Shark Tank was pivotal to the lives of its investors, such as Kevin O'Leary, when it came to raising them to fame because it made their expertise and success stories known to the world. Once the masses discovered them, they wanted to hear their expert opinions on socio-political and financial topics, and interviewers, podcasters, and news houses took the opportunity to relay them.

In one such interview, published by Kevin O'Leary on his official X account on March 21, he spoke to Fox Business viewers about a new act expected to regulate the cryptocurrency market. The act is called the Genius Act, merged with the Stable Coin Act, proposed about four years ago. Kevin revealed that this Act had bipartisan support and would act as the first pillar of legislation for digital assets. He added:

"The first pillar of legislation is going to be the Stable Coin Act."

He asked the viewers to take the opportunity and own tokenized platforms such as WonderFi and Coinbase, which would help them to smoothly transact with digital assets like cryptocurrency. Like some of his previous interviews related to his opinions of cryptocurrency becoming more regulated, the Shark Tank investor emphasized the importance of an early investment in this one too.

---

What Shark Tank star Kevin O'Leary said about the changes in digital assets legislation

The Fox Business interviewer brought up what Kevin said in a previous interview about crypto's "cowboy" phase being over and asked him if it was a good time for crypto-skeptical people to start investing in it. Kevin stated that he looked at the cowboy phase's end as a step towards moving policy away from just litigation and forging some rules and guidelines for the digital assets market.

The Shark Tank investor added that the proof of this not just being hype was the fact that the Genius Act was being introduced. This act was another name for the Stable Coin Act that was introduced four years ago, and he believed that the government would pass its bill in a couple of months.

Adding to it, Kevin further stated:

"That's not about Bitcoin, that's about digital payment systems."

He explained that if the users had a wallet such as Robinhood, WonderFi, or Coinbase, they could wire money to people for a fraction of the cost they paid for a bank currently. Lastly, he said he believed that Crypto would be the 12th sector of the economy.

---

For more updates on Shark Tank investor Kevin O'Leary fans can follow him on his official Instagram and X account on @kevinolearytv.