Billionaire Mark Cuban revealed that Vice President Kamala Harris’ team opposes “regulation through litigation,” criticizing SEC Chair Gary Gensler’s enforcement-based approach to crypto regulation. Cuban labeled Gensler a “blight on the technology community,” expressing concerns that such policies stifle innovation and economic growth.
read moreRitchie Torres
0 posts last week
Mark Cuban Critiques SEC Chair Gensler and Eyes Potential Leadership Role
Mark Cuban has expressed strong dissatisfaction with SEC Chair Gary Gensler, labeling him a “blight” on the tech scene and suggesting that Vice President Kamala Harris could replace him if she wins the presidency. Cuban argues that Gensler’s regulatory approach stifles innovation and economic growth in the crypto industry, a sentiment echoed by bipartisan lawmakers during a recent congressional hearing. He has indicated interest in leading the SEC himself, advocating for a more favorable regulatory environment for digital assets.
read moreSEC Faces Criticism Over Controversial Crypto Asset Security Term
Ripple’s chief legal officer, Stuard Alderoty, criticized the SEC for its controversial term “crypto asset security,” claiming it misleads judges and lacks legal basis. The SEC recently apologized for its use of the term in a Binance case, acknowledging it caused confusion. Alderoty expressed concerns that the SEC is falling behind global regulatory trends in the crypto space. In related news, Dogecoin (DOGE) has seen a significant surge of 1,757% in bullish activity, with major holders increasing their netflow, indicating optimism about the meme coin’s future potential. The accumulation suggests investors are preparing for potential growth, as DOGE approaches its first “golden cross” in over four years.
read moreCryptocurrency Gains Surge Following Federal Reserve Interest Rate Cut
WIF, PEPE, and SEI emerged as top-performing altcoins following Bitcoin’s surge above $63,800 after the US Federal Reserve’s 0.5% interest rate cut. SEI rose 19%, WIF 17%, and PEPE 12%, with significant trading volumes reported. Meanwhile, the SEC is seeking an extension until February 2025 to provide documents in its case against Coinbase, amidst ongoing legal challenges against major crypto exchanges. For more on the SEC’s actions, visit [Bloomberg](https://www.bloomberg.com).
read moreCongress and Crypto Leaders Criticize SEC’s Regulatory Approach to Industry
Crypto leaders and Congress members criticized the SEC’s stringent regulations under Gary Gensler, labeling the U.S. a “crypto no-fly zone.” They argued that the current framework stifles innovation and harms consumers, with calls for a regulatory overhaul as Gensler’s term nears its end. Meanwhile, the SEC reached a settlement with Rari Capital over misleading investors.
read moreCongressman Torres Advocates for Regulating Election Betting Contracts with CFTC
New York Congressman Ritchie Torres advocates for regulating election betting contracts rather than banning them, urging the CFTC to focus on responsible innovation and consumer protection. He expressed willingness to collaborate with the commission to enhance election integrity and prevent illegal markets from gaining traction. Torres’s stance follows a court ruling questioning the CFTC’s authority to halt such markets, emphasizing the need for effective regulation over prohibition.
read moreRep Torres urges CFTC to regulate election markets after court ruling
Rep. Ritchie Torres has urged the CFTC to accept a court ruling that limits its authority over election prediction markets, advocating for a focus on regulating these markets to protect consumers and election integrity. Following a judge’s decision against the CFTC’s actions against Kalshi, which sought to list election-related contracts, Torres emphasized the need to allocate resources to regulated entities and warned against the risks posed by unregulated markets. The CFTC has appealed the ruling, citing concerns over election integrity.
read moreNew York Regulator Advocates for State Authority in Crypto Regulation
New York’s financial regulator, Adrienne Harris, is optimistic about a federal stablecoin deal but emphasizes the importance of maintaining state authority in crypto regulation. She has been advocating for legislation in Washington to ensure that the DFS’ expertise and work are not abandoned, while also highlighting the need for a dual regulatory system involving both federal and state regulators. Harris believes that a deal between Democrats and Republicans will be reached in the near future, thanks to the efforts of legislators like Senate Majority Leader Chuck Schumer.
read more