Business tycoon Mark Cuban has accused Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC), of deliberately imposing impractical regulations to undermine the crypto industry. In a lengthy post on the social media platform X, the Shark Tank star expressed his frustration with the SEC’s approach, stating that the regulatory agency’s rules make it nearly impossible for companies to comply. Cuban highlighted that the digital asset industry is seeking a simple and efficient registration process to filter out fraudulent tokens, but instead, the SEC has made compliance a daunting task. He argued that Gensler’s legacy is the creation of an environment where legitimate companies struggle to do the right thing due to excessive costs and complexity. Cuban’s criticism reflects concerns within the crypto community about the regulatory landscape and its impact on innovation and investor protection.
