Mark Cuban: SEC Regulations Will Be A “Nightmare”

Mark Cuban says the SEC regulations will be a nightmare. In the recent tweet responding to Pat Toomey, Cuban said his statement regarding the SEC on 23 July

Mark Cuban Tweeted about the SEC

In a tweet replying to the disagreement of Pat Toomey with the SEC, Mark Cuban also posted his views on the matter. He said that once the SEC comes up with the registration of tokens, it would be a nightmare for the crypto world.

The owner of Dallas Mavericks stated, “That’s the nightmare that’s waiting for the crypto industry. How else do you keep thousands of lawyers employed and create reasons to ask for more taxpayer money?”

He attached a video with the SEC in 2014. He expressed his disappointment with them as he was directed to a no-action letter, filed in 1980

Previous Tweet from Pat Toomey

Related: Ex-Coinbase Manager Arrested For Alleged Crypto Insider Trading

On 22 July, the SEC posted about the issue with the ex-Coinbase product manager. Not long after that, Senator Pat Toomey voiced his disagreement with the SEC regulating the crypto world. He said, “Yesterday’s enforcement action is the perfect example of the SEC having a clear opinion on how and why certain tokens classify as securities. Yet the SEC failed to disclose their view before launching an enforcement action.”

He added that providing clarity in the regulation would be more beneficial for investors.

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