Mark Cuban says cryptocurrency is a key issue in the US election: Biden may lose the election because of the SEC

Billionaire Mark Cuban said on social media Make a choice or risk losing the White House.

Mark Cuban: Cryptocurrency is an important election issue

Mark Cuban emphasized in his reply to a conversation with netizens that cryptocurrency will play an important role in this year’s presidential election, but the two most vocal presidential candidates seem to have underestimated the importance of this issue.

At the same time, he also expressed doubts about the current two US presidential candidates’ understanding of cryptocurrency, believing that Trump will only peddle his own NFT , which does not mean that he understands cryptocurrency:

I have said many times that Biden must choose between Gensler and crypto voters or he risks losing the White House.

He also mentioned that "cryptocurrency voters will become a key difference in votes between Biden and Trump."

At present, after Trump expressed his strong support for cryptocurrency, the originally conservative Biden has gradually changed his stance , and it is speculated that he seems to have tampered with the Ethereum spot ETF.

( The Block: Ethereum spot ETF will become a political bargaining chip, the SEC is like rushing to write papers the night before the deadline )

Gary Gensler could cost Biden the election

Just last month, Cuban expressed the same position while criticizing SEC Chairman Gary Gensler, claiming that cryptocurrencies will play an important role in the 2024 US election.

He emphasized that Gensler did not protect investors from fraud, but instead made it almost impossible for crypto companies to operate properly:

If Biden loses, you can blame Gary Gensler and the SEC because cryptocurrencies are already a mainstay for some young voters.

He added , "This is also a warning to Congress. You can help Biden solve this problem by setting industry standards, or hand over regulatory power to the CFTC."

It is reported that this is not the first time Mark Cuban has publicly criticized the SEC. In October last year, he also submitted a joint amicus brief, condemning the SEC for repeatedly conducting trials without juries, which has long been unconstitutional and infringed on the rights of defendants.

( Musk and Cuban jointly submitted an amicus brief, condemning the SEC for circumventing the jury system )

Biden still actively defends SEC authority

However, according to Biden’s attitude of vetoing the repeal of the anti-encryption rule SAB121 last week, it is not difficult to see that Biden still defends the SEC’s authority in this regard.

( Biden uses the presidential veto! Prevent Congress from expanding its power to interfere with the SEC: Adhering to SAB 121 accounting principles can protect investors )

Previously, the U.S. House of Representatives voted to pass the Financial Innovation and Technology Act for the 21st Century (FIT21) , which aims to clarify the regulatory powers and responsibilities of the SEC and CFTC in digital assets. As opponents of the bill, Biden and the SEC will take measures to Any action is also attracting attention.

( The key to getting rid of SEC supervision! What are the definition conditions of "decentralized network" in the FIT21 bill? The public chain killer is coming )