Mark Cuban advocates for CFTC to regulate ‘all crypto’ ahead of US election day
Billionaire investor Mark Cuban says that assigning all authority to the CFTC “could solve” the problem of vocal crypto voters for current United States president Joe Biden.
Billionaire investor Mark Cuban has pushed for the Commodities Futures Trading Commission (CFTC) to take charge of regulating “all crypto,” along with a final plea to the U.S. Congress to offer clarity for the crypto industry before the 2024 presidential election.
Cuban believes that such clarity could potentially help secure another presidential term for Joe Biden.
“You could solve this problem for Biden by passing legislation that defines registration that is specific to the crypto industry just as other industries have registration that is defined for them,” Cuban declared to his 8.8 million followers in a May 10 post on X.
He further claimed that if Biden isn’t reelected for another presidential term, the SEC and its Chair Gary Gensler, known for their tough anti-stance against crypto, may be held responsible, as crypto voters “will be heard this election.”
“If Joe Biden loses, there is a good chance you will be able to thank Gary Gensler and the New York SEC,” he added, before suggesting the “better option” of assigning “all crypto to be regulated by the CFTC.”
“Crypto is a mainstay with younger and independent voters. Gensler HAS NOT PROTECTED A SINGLE INVESTOR AGAINST FRAUD.”
Cuban echoed the argument that has been heard by other leaders in the crypto community in recent times that Gensler has made it “nearly impossible” for legitimate crypto companies to operate within the U.S. due to his enforcement-focused regulatory approach.
Get to know Godleak
Godleak crypto signal is a service which provide profitable crypto and forex signals. Godleak tried to provide you signals of best crypto channels in the world.
It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.
Godleak crypto leak service have multiple advantages in comparision with other services:
- Providing signal of +160 best crypto vip channels in the world
- Using high tech bot to forward signals
- Without even a second of delay
- Joining in +160 separated channels on telegram
- 1 month, 3 months , 6 months and yearly plans
- Also we have trial to test our services before you pay for anything
For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features
Join for Free
☟☟☟☟☟
https://t.me/Godleakbot
Also you can check the list of available vip signal channels in the bot. by pressing Channels button.
46 enforcement actions were taken against crypto firms alone in 2023, according to litigation consulting firm Cornerstone Research data.
The SEC is now suing Kraken, Coinbase, Uniswap, Metamask and now Robinhood for the crime of helping regular Americans access crypto.
This level of regulatory overreach has destroyed the legitimacy of the SEC and may lose the democrats the election.
Voters don’t want this.
— RYAN SΞAN ADAMS – rsa.eth (@RyanSAdams) May 6, 2024
Meanwhile, CFTC Chair Rostin Behnam believes there is going to be another cycle of enforcement actions within the crypto industry in the next 6 to 18 months.
The United States election is set to happen on November 5 and crypto seems to be a key issue for many voters within the country.
On May 7, reported that in an online poll conducted in April with 1,201 registered voters, more than two-thirds of those surveyed somewhat or strongly agreed that “crypto is for people like them, and more equitable than the financial system.”
The Biden administration has faced numerous controversies from the crypto community in recent months.
Most recently, Cardano founder Charles Hoskinson claimed it was “unambiguously clear” the Biden administration is trying its best to “destroy the American cryptocurrency industry.”
This comes after Biden claimed that his administration plans to veto a joint resolution to overturn SEC guidelines that discourage banks from holding crypto assets in custody.
