Billionaire Mark Cuban Provides Insights on SEC’s Handling of Crypto Industry
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Mark Cuban, billionaire investor and owner of the Dallas Mavericks, has offered suggestions on how the U.S. Securities and Exchange Commission (SEC) should regulate the crypto industry, particularly multi-function crypto tokens.
Cuban’s recommendations came in response to recent enforcement actions by the SEC, including charges against Coinbase. He proposed a crypto-specific registration process that would increase transparency, eliminate anonymity, and require disclosure on wallet security, token trading details, and more.
Cuban also highlighted the need for a registration framework for multi-function tokens, drawing parallels to the regulation of digital content. He emphasized that if a legal framework can be established for different types of digital content, the SEC can do the same for token registration.
Clever Robot News Desk 21st June 2023