Billionaire investor Mark Cuban has urged the U.S. Commodity Futures Trading Commission (CFTC) to take charge of regulating all cryptocurrencies, and finally asked the U.S. Congress to provide clear regulations for the crypto industry before the 2024 presidential election.
Cuban believes that this clarity could help Joe Biden secure another presidential term, and that Biden's problem could be addressed through legislation that defines registrations specific to the crypto industry, just as other industries have registrations specifically defined for them. If Biden is not re-elected president, the SEC and its chairperson Gary Gensler could be held accountable, as cryptocurrency voters will have a voice in this election.
Cuban agrees with those in the crypto community that Gensler's law enforcement-focused regulatory approach makes it nearly impossible for compliance crypto firms to operate within the United States.
Mark Cuban Urges CFTC to Acquire Entire Crypto Regulation Ahead of US Presidential Election
2024-05-11 01:41:15
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