Shark Tank star Kevin O’Leary spoke about bitcoin and cryptocurrency regulation in an interview on Friday. O’Leary said U.S. cryptocurrency regulations won’t come out until after the midterm elections. O’Leary explained that U.S. President Joe Biden is not interested in discussing cryptocurrencies when his approval ratings are at an all-time low.
O’Leary also cited other factors, including double-digit inflation and high food and gasoline prices. The U.S. midterm elections are scheduled for November 8. If Republicans control one or both chambers, it would have the power to thwart the president’s plans.
O’Leary explained that encryption isn’t one of the issues you’re going to be a supporter of when you’re down in the polls. It didn’t help him.