Mark Cuban urges CFTC to take over crypto regulation ahead of US presidential election

Billionaire investor Mark Cuban urged the U.S. Commodity Futures Trading Commission (CFTC) to regulate "all cryptocurrencies" and finally asked the U.S. Congress to provide clear regulations for the crypto industry before the 2024 presidential election. Cuban believes that such clarity could help Joe Biden get another presidency. He said: "You can solve this problem for Biden through legislation that defines registration specific to the crypto industry, just as other industries have registrations specifically defined for them." He further claimed that if Biden is not re-elected president, the U.S. SEC and its chairman Gary Gensler may be held accountable because cryptocurrency voters will have a voice in this election. Cuban agrees with the view of those in the crypto community that Gensler's enforcement-focused regulatory approach makes it "almost impossible" for compliant crypto companies to operate within the United States. (Cointelegraph)