Billionaire investor Mark Cuban has some strong words for Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC). Cuban believes Gensler's regulations for cryptocurrencies are too complicated. He thinks this complexity is holding back the growth of the crypto industry.

During a recent episode of the All In Podcast, Cuban shared his concerns. He pointed out that small companies struggle to meet SEC regulations. He recounted his own experience with lazy.com, where he tried to launch a token. The process turned out to be very costly and complicated. Cuban said the current rules just aren’t practical for businesses with limited revenue.

He stated, “What happens is, Gary Gensler is making it so difficult to register. What he should be doing is saying, here’s the bright line: regulations.”

Cuban suggested that if Gensler had a more straightforward approach—like the one used in Japan—it could have saved companies like FTX and Three Arrows Capital from collapsing. He explained, “If FTX wants to loan out all their Ethereum, you have to do what they did in Japan. You need 95% collateral and 95% of anything in cold storage. If he had followed those rules, FTX would still be in business.”

He didn’t stop there. Cuban criticized Gensler's method of “regulation through litigation.” He believes this creates uncertainty and stifles innovation.

Cuban also expressed his support for John Deaton, who is running against U.S. Senator Elizabeth Warren. He appreciates Deaton's pro-crypto stance and thinks it’s important for the industry.

This isn’t the first time Cuban has criticized Gensler. Recently, he even expressed interest in becoming the next SEC chair. He’s unhappy with Gensler’s leadership and called current SEC policies “awful” for business growth in the crypto space. Cuban’s backing of Deaton highlights his disagreement with Warren’s anti-crypto stance, which Gensler supports. Cuban believes Warren's approach could hurt the industry by overlooking its potential benefits.

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