Celebrity investor Kevin O'Leary told CNBC that he would prefer to consult with regulators rather than invest in digital currencies lightly.
In order to see what is possible and what isn't, O'Leary preferred to consult with regulators before investing in the space.
He said that he had no interest in investing in litigation against the SEC.
The SEC has concerns about the ties that the firm has with the seventh-biggest coin. The SEC alleged that the executives of the company sold more than a billion dollars worth of securities.
The real capital is in that area, and that is where O'Leary preferred to accommodate and comply with regulators.
He said that he has so many assets in the real world that he has to be compliant.
The Russian ruble and the Chinese yuan were not something that O'Leary wanted to invest in because he didn't know enough about the country'sBlockchain or how they were monitoring ownership.
The biggest opportunity for stable coins was tied to the U.S. dollar, according to O'Leary.
He acknowledged that it may sound counterintuitive, as the buying power of the dollar decreases with inflation.
He said that he had been sitting on a large amount of cash after selling a lot of his commercial property investments.
The USD coin is pegged to the U.S. dollar and could make a potential 6% return, according to O'Leary, who said that he could make a potential 6% return by buying into the coin. O'Leary said that he could only invest up to 5% of his cash inUSDC.
He said there was an opportunity for the U.S. to lead the charge.
The United Arab Emirates capital of Abu Dhabi, where the annual fintech festival is held, is where O'Leary was to speak to the government and regulators about the country's rules for the use of the ledger.
He said that he didn't consider cryptocurrencies the same way that other people do.
When he was looking to invest in the space he wanted to understand which platform would win the long term.
He named some of them as examples.
He said that he needed to invest in all of them, not just one, because he didn't know who the winner would be.
The U.S. doesn't have an exchange-traded fund that holds bitcoin because the regulators are taking their time on the issue.
He said that he wanted to hear from the regulators what the plan was so that he could be involved in it.
CNBC's Ryan Browne contributed to the report.
