Mark Cuban, the Shark Tank star and an owner of NBA’s Dallas Mavericks takes a dig at the chair person of SEC Gary Gensler
- Mark Cuban Slams Gary Gensler
- Mark Cuban’s previous comments on SEC
- SEC acting as an enforcement body rather than a regulatory body
- SEC continues to create vows in the market
Mark Cuban slams Gary Gensler
Mark Cuban, who is one of the popular personalities, more or less a star, who also judges the Television show Shark Tank, recently slammed Gary Gensler, for not making clear regulatory frame work to run the cryptocurrency market.
Recently Gary Gensler, stated that, cryptocurrency market is no different to any other capital market, and hence needs to be treated the same way. The main role of SEC according to Gensler is to protect the investors and their investments in the market. He also added that, SEC will serve as the Cop of the market and will patrol the market at its best potential.
However, Mark Cuban tweeted taking a dig at Gary Gensler’s comment. Let’s look at the tweet put by Mark.
Come in and talk to who ? Set up an appointment how ? You using Calendly these days ? Since you understand crypto lending/finances, why don’t you just publish bright line guidelines you would like to see and open it up for comments ? https://t.co/N3KQAnutl9
— Mark Cuban (@mcuban) August 22, 2022
From the tweet, it is evident that, Mark Cuban is pissed of how the SEC is functioning and how Gary Gensler is leading the body. Mark went on to ask Gary to publish bright line guidelines and open it up for the crypto community to comment on it. This was not the first time, Mark Cuban took a dig at Gary Gensler and SEC.
Mark Cuban’s previous comments on SEC
Cuban stated last month that anyone who thought that SEC’s allegations was a bad move in and of itself, they should wait to see what the SEC will come up with for the registration of tokens. This was in response to the agency’s allegations that at least nine cryptocurrencies considered unregistered securities were being traded on cryptocurrency exchange Coinbase.
SEC acting as an Enforcement body
The general notion among the investors of cryptocurrency in the market is that, the regulatory body SEC is acting more like an enforcement body and less like a regulatory body. Gary Gensler has been criticized left, right and center for enforcing rules on some of the cryptocurrency exchanges and filling lawsuits against such companies who stood up against such rules.
SEC creates panic in the market
According to me, if SEC continues in this trend, the time is not far away when the regulatory body will start ringing alarm bells in the minds of the investors. The regulation of the cryptocurrency market is very important and the correct kind of regulation is also important for the market to grow and nurture in the best possible way.
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