{"id":22891,"date":"2022-08-24T10:40:53","date_gmt":"2022-08-24T05:10:53","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=22891"},"modified":"2022-09-19T18:37:21","modified_gmt":"2022-09-19T13:07:21","slug":"mark-cuban-asks-sec-for-clear-crypto-guidelines","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/crypto\/mark-cuban-asks-sec-for-clear-crypto-guidelines\/","title":{"rendered":"Mark Cuban urges SEC to come up with clear crypto guidelines"},"content":{"rendered":"

Billionaire investor Mark Cuban has come down heavily on Securities and Exchange Commission (SEC) Chairman Gary Gensler. The latter had written an op-ed<\/a> piece that presents the argument that crypto simply uses a different technology than capital markets but it doesn\u2019t need to be treated differently by regulators. Cuban was responding to the stance taken in the op-ed.<\/p>\n

Cuban lashed out against the chairman for his unclear regulatory stance, saying that the SEC is making it nearly impossible for the businesses and retail crypto investors to gain any clear direction.<\/p>\n

How did it begin?<\/h2>\n

On 23 August 2022, Gensler shared his op-ed on his Twitter handle. The opinions he expressed in the Wall Street article were triggered by the fact that BlockFi, a leading crypto-specific financial platform, settled SEC and other federal and state investigations by agreeing to pay out $100 million.<\/p>\n

Cuban immediately responded with a hard-hitting tweet, highlighting SEC\u2019s lack of accessibility. He added that there is little space for crypto firms and investors to communicate with the Commission.<\/p>\n

\n

There\u2019s no reason to treat the crypto market differently from the rest of the capital markets just because it uses a different technology\u2026<\/p>\n

Read my recent Op-Ed:<\/p>\n

— Gary Gensler (@GaryGensler) August 22, 2022<\/a><\/p><\/blockquote>\n