Regulation
Mark Cuban urges SEC to learn lessons from Japanese crypto regulations
Prominent entrepreneur Mark Cuban supports digital assets and urges US lawmakers to emulate Japan’s crypto-friendly regulations, criticizing the SEC’s approach.
Dear @SenateDems , @HouseDemocrats Can we please learn from what Japan is doing? Why do they fully support him, and our SEC makes it impossible to survive in the United States?
This is the first technology I can remember that we passed on to the rest of the world,… https://t.co/R0EaHu4fTp
– Mark Cuban (@mcuban) May 12, 2024
In a series of tweets, Cuban questioned why Japan fully supports cryptocurrency while the SEC imposes strict rules that hinder crypto activities in the United States. Cuban highlighted the global importance of crypto, warning that the United States risks falling behind by stifling innovation.
Mark Cuban praised Japan’s proactive measures against fraud, suggesting that alignment with these principles could benefit the US market, and criticized the SEC for its institutional shortcomings, extending beyond crypto to traditional oversight of the stock market.
Japan has approved the exchange of 65 cryptocurrencies, demonstrating a progressive stance. Cuban rented Japan’s response to past crypto failures like Mt. Gox contrasts with the SEC’s reactive approach, urging the SEC to adopt effective regulations to foster innovation.
Mark Cuban emphasizes that the SEC should follow Japan’s lead in fostering innovation and supporting digital assets through proactive crypto regulation.
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