Billionaire investor Mark Cuban has criticized the SEC for allegedly failing to provide a clear registration process for crypto exchanges.
In a June 11 post, Mark Cuban claimed that the United States Securities and Exchange Commission’s framework document for Investment Contract analysis of Digital Assets has no record of it, making it nearly impossible to know what constitutes a security.
Cuban: SEC Shows More Transparency to Other Areas
Mark Cuban shared the following statements: “Unfortunately, none of the elements presented on this page are part of the recording process. This makes it nearly impossible to know what is and isn’t a security in the crypto industry, with or without an army of securities lawyers.”
In addition, Cuban is an expert in other areas of the financial sector. SECHe said he saw much more transparency than
Mark Cuban explained that instead of qualifying stock loans as securities or suing brokers and banks, they entered an evaluation process. “They should do the same for crypto to determine which aspects of crypto are securities and which are not,” Cuban added.
US Senator Cynthia Lummisalso reacted to the regulator as a solid legal framework was not established and legal guidance was not offered.
SEC Chairman Gary Gensler, on June 8 Global Exchange & Fintech He claimed at his conference that there was a registration process and that companies knew how to register. Gensler’s comments, coinbaseAnd RobinhoodIt was made in connection with recent allegations that .
