Mark Cuban is a prominent American Billionaire and Entrepreneur. Recently, he has made remarks with reference to crypto in the upcoming US election 2024.
Mark Cuban warns SEC of upcoming US elections, claiming that the Crypto regulation policies will have a significant impact on the voters voting in the presidential elections. According to Cuban, “crypto is a mainstay with younger and independent voters.”
In a Friday social media post, billionaire Mark Cuban addressed former Republican presidential candidate Donald Trump’s courting of cryptocurrency, asserting that cryptocurrency will be a major factor in the 2024 election.
“If Joe Biden loses, there is a good chance you will be able to thank Gary Gensler and the SEC,” “Crypto is a mainstay with younger and independent voters.”, Cuban wrote on the social media platform X.
“All he has done is make it nearly impossible for legitimate crypto companies to operate, killing who knows how many businesses and ruining who knows how many entrepreneurs. This is also a warning to Congress, Crypto voters will be heard this election. 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. Or you could do the better option and assign all crypto to be regulated by the CFTC.”, said Cuban clearly highlighting the failure of Gary Gensler in protecting investors against frauds.
Crypto & 2024 Presidential US Elections
- According to a January 2024 poll, 51% of cryptocurrency voters would choose Trump over Biden to be the next US president.
- But 46% of respondents indicated they would support Democrats in the Senate and the House.
- 42% said they would support Republicans in Congress. There were 9% of these voters who were unsure.
- Trump declared that he would take donations in Bitcoin for his bid for president. Furthermore, as The Block previously reported, on May 9, memecoins inspired by Trump and current US President Joe Biden gained 44% and 22%, respectively.
According to Gensler, cryptos are a risky and volatile asset, and hence, “crypto markets could use a little disinfectant.”
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