Mark Cuban recently shared his concerns about how the U.S. Securities and Exchange Commission (SEC) is handling the crypto industry in a recent interview.
For a long time, Cuban have been publicly criticizing SEC Chair Gary Gensler for the way the agency regulates the cryptocurrency industry. Recently, Cuban had the chance to speak with Gensler in person at CNBC’s studios
In an interview with Faroek Radio, Cuban shared that Gensler seemed completely unaware of the damage his policies are causing. “I told him he is screwing the whole thing up, you’re pushing industries overseas, and honestly, I don’t think he got it.” Cuban said.
He went on to say that Gensler seemed to view himself as a “public servant that’s saving the world” from the dangers of crypto, rather than someone who’s making it hard for the industry to thrive.
Cuban further compared Gensler’s attitude to that of Senator Elizabeth Warren. Warren has repeatedly said that crypto is used by criminals and bad actors to get around the law. Cuban thinks Gensler shares this view, treating crypto as a villain in the financial world.
The billionaire said he is currently working on setting up another meeting with Gensler, hoping that he could get his point across better for the need of a better, less strict regulation.
Interestingly, Cuban has once made news by saying he’d consider becoming SEC chair if Kamala Harris wins the presidency. However, he later clarified that he wasn’t serious about taking the job and that he was just trying to make a point.
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