Regulation
Mark Cuban pushes for crypto clarity ahead of 2024 election
The 2024 presidential election is looming and the regulation of cryptocurrencies in the United States must be well defined, according to billionaire investor Mark Cuban.
In a viral post on social media platform
To ensure that Joe Biden will be able to secure another term as president, Cuban believes it is necessary for an act of Congress to clarify the crypto industry’s registration requirements, just as it does for other sectors. He warned that if Biden lost, the SEC and Gary Gensler could be blamed by crypto voters.
In his defense, he claimed that it is “nearly impossible” for legitimate crypto companies to operate using an enforcement-heavy approach, stating. According to him, “Gensler DID NOT PROTECT A SINGLE INVESTOR AGAINST FRAUD.” On the other hand, he supports the CFTC regulating all cryptocurrencies over anything else.
Therefore, this means that there is too much regulation in the crypto space which is killing innovations. The stance taken by this sector could make or break the US presidential race, as data from Most Americans reveals that more than two-thirds of individuals view bitcoin as “fairer than the financial system.”
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