Billionaire investor mcuban took aim at former SEC official johnreedstark’s support of the financial regulator in its case against Binance, accusing Gary Gensler of throwing crypto startups “under the bus.”
Crypto Twitter was witness to a fierce debate this wee, with billionaire investor Mark Cuban accusing SEC’s Gary Gensler of throwing crypto under the bus while a former SEC official was quick to come to the regulator’s defense.
In a spirited, back-and-forth exchange on Twitter with former SEC officer John Reed Stark that started on June 14, Cuban took issue with Stark’s seeming defense of the SEC’s recentCuban accused Stark of misinterpreting the impact of the case and blamed SEC Chair Gary Gensler’s “regulation via litigation” approach for sabotaging crypto startups.Not all crypto businesses that have tokens or are considering using tokens are large “enterprises”. Which is the assumption, I believe you are making.
Stark had earlier argued that crypto-related businesses should be treated as “large enterprises” by regulators. However, Cuban argued that many crypto businesses are small and shouldn't be told to “hire securities lawyers” just to get a start in the industry.
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