{"id":477952,"date":"2022-07-25T17:57:43","date_gmt":"2022-07-25T14:57:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mark-cuban-warns-bitcoin-crypto-face-looming-sec-nightmare\/"},"modified":"2022-07-25T17:57:43","modified_gmt":"2022-07-25T14:57:43","slug":"mark-cuban-warns-bitcoin-crypto-face-looming-sec-nightmare","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mark-cuban-warns-bitcoin-crypto-face-looming-sec-nightmare\/","title":{"rendered":"#Mark Cuban warns bitcoin, crypto face looming SEC &#8216;nightmare&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a262a633bd54\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a262a633bd54\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/mark-cuban-warns-bitcoin-crypto-face-looming-sec-nightmare\/#%E2%80%9CMark_Cuban_warns_bitcoin_crypto_face_looming_SEC_%E2%80%98nightmare%E2%80%9D\" >&#8220;Mark Cuban warns bitcoin, crypto face looming SEC &#8216;nightmare&#8217;&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1>&#8220;Mark Cuban warns bitcoin, crypto face looming SEC &#8216;nightmare'&#8221;<\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Tightened SEC regulation of the cryptocurrency industry represents a potential \u201cnightmare\u201d for the struggling sector, whose prices already have been battered by surging interest rates and recession fears, billionaire Mark Cuban warned on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>.<\/p>\n<p>Cuban provided his dire warning in response to a tweet from Sen. Pat Toomey (R-Pa.), who had slammed the SEC after it brought insider trading charges against a former Coinbase product manager. <\/p>\n<p>The senator said the SEC took an enforcement action without clarifying why it views certain digital coins as \u201csecurities\u201d similar to stocks or bonds.<\/p>\n<p>\u201cYesterday\u2019s enforcement action is the perfect example of the SEC having a clear opinion on how and why certain tokens classify as securities,\u201d said Toomey, ranking member of the Senate Banking Committee. \u201cYet the SEC failed to disclose their view before launching an enforcement action.\u201d<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-wrapper twitter\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Yesterday\u2019s enforcement action is the perfect example of the SEC having a clear opinion on how and why certain tokens classify as securities. Yet the SEC failed to disclose their view before launching an enforcement action. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/UBMNrDu0pV\">https:\/\/t.co\/UBMNrDu0pV<\/a><\/p>\n<p>\u2014 Senator Pat Toomey (@SenToomey) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SenToomey\/status\/1550580076357382145?ref_src=twsrc%5Etfw\">July 22, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/figure>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-wrapper twitter\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Think this is bad? Wait till you see what they come up with for registration of tokens. That&#8217;s the nightmare that&#8217;s waiting for the crypto industry.  How else do you keep thousands of lawyers employed and create reasons to ask for more taxpayer money? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/eoDAiyDxlR\">https:\/\/t.co\/eoDAiyDxlR<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/mjr9LxnDZB\">https:\/\/t.co\/mjr9LxnDZB<\/a><\/p>\n<p>\u2014 Mark Cuban (@mcuban) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mcuban\/status\/1550867963070230528?ref_src=twsrc%5Etfw\">July 23, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/figure>\n<p>\u201cThink this is bad? Wait till you see what they come up with for registration of tokens,\u201d Cuban tweeted in response to Toomey. \u201cThat\u2019s the nightmare that\u2019s waiting for the crypto industry. How else do you keep thousands of lawyers employed and create reasons to ask for more taxpayer money?\u201d<\/p>\n<p>The Post has reached out to the SEC for comment.<\/p>\n<p>The possibility of requiring the registration of cryptocurrencies as a form of security is a matter of intense debate as the feds mull potential regulations for the industry. The debate intensified last week after the SEC unveiled insider trading charges against the ex-Coinbase employee, Ishan Wahi, as well as his brother and a friend.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/Gary-Gensler-31.jpg?w=1024\" alt=\"Gary Gensler\" class=\"wp-image-23187242\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/Gary-Gensler-31.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/Gary-Gensler-31.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/Gary-Gensler-31.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>SEC Chair Gary Gensler is pushing for stricter regulation of cryptocurrencies.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>The feds allege that the trio used confidential information to buy up cryptocurrencies just before the public learned that Coinbase would list them on its platform. The alleged scheme generated more than $1 million in profits.<\/p>\n<p>The SEC said that it considers at least nine of the 25 tokens that the trio purchased as securities \u2013 a definition that could open up Coinbase and other crypto platforms to much stricter federal scrutiny and regulation.<\/p>\n<p>Coinbase, which cooperated with the federal investigation and eventual arrest of its ex-employee, nevertheless slammed the SEC\u2019s handling of the situation.<\/p>\n<p>\u201cSeven of the nine assets included in the SEC\u2019s charges are listed on Coinbase\u2019s platform. None of these assets are securities,\u201d the company said in a blog post. \u201cCoinbase has a rigorous process to analyze and review each digital asset before making it available on our exchange \u2014 a process that the SEC itself has reviewed.\u201d<\/p>\n<p>Cuban has frequently clashed with the SEC in the past \u2013 once defeating the agency in court after it accused him of participating in an insider trading scheme.\n                        <\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/07\/25\/mark-cuban-warns-bitcoin-crypto-face-looming-sec-nightmare\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Mark Cuban warns bitcoin, crypto face looming SEC &#8216;nightmare&#8217;&#8221; Tightened SEC regulation of the cryptocurrency industry represents a potential \u201cnightmare\u201d for the struggling sector, whose prices already have been battered by surging interest rates and recession fears, billionaire Mark Cuban warned on Twitter. Cuban provided his dire warning in response to a tweet from Sen&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":477953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/07\/mark-cuban-27.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,74898,131695,76127,89888,72590],"class_list":["post-477952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-sec","tag-7-25-22","tag-cryptocurrency","tag-insider-trading","tag-mark-cuban"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/477952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=477952"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/477952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/477953"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=477952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=477952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=477952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}