'Shark Tank' panelist and paid FTX spokesman Kevin O'Leary clashed with Sen. Elizabeth Warren, D-Mass., over proposed anti-money laundering rules for cryptocurrency.
"No, I think we should apply the same regulatory structure that we apply to existing trading of stocks and bonds on exchanges tied to broker dealers. That is not complicated. It's already been implemented in other countries," O'Leary told Warren.
Kevin O'Leary, chairman of O'Shares ETFs for O'Leary Funds Management LP, speaks during a Senate Banking, Housing and Urban Affairs Committee hearing on FTX in Washington, D.C., on Wednesday."I appreciate your point that everyone tries to engage in money laundering," she said. "That's what terrorists do. That's what drug company, uh, drug dealers do. And that's what states like Iran and North Korea have done.
"The only point I'm trying to make is, should the same rules against money laundering apply to crypto in the way that they apply to banks, to stockbrokers, to credit card companies, to Western Union? And, I think your answer to that is yes, right?" she asked.
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