Celebrity investor Kevin O'Leary is investing in digital currencies, but he hasn't done so lightly, telling CNBC that he'd prefer to consult with regulators on this space rather than be a "crypto cowboy."
O'Leary told CNBC's "Capital Connection" on Tuesday that he preferred to consult with regulators before investing in cryptocurrency, in order to see "what is possible and what isn't" in terms of their stance on the space.
"I have zero interest in investing in litigation against the SEC [U.S. Securities and Exchange Commission], that is a very bad idea," he said, in a discussion around the U.S. regulator's case with fintech company Ripple.
The SEC's case against Ripple is centered on its concerns about the fintech firm's ties to XRP, the world's seventh-biggest cryptocurrency. The SEC alleged that Ripple and its executives sold $1.3 billion worth of the tokens in an unregistered securities offering.