{"id":80322,"date":"2023-06-16T11:58:26","date_gmt":"2023-06-16T08:58:26","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80322"},"modified":"2025-09-11T16:18:53","modified_gmt":"2025-09-11T13:18:53","slug":"mark-cuban-accuses-former-sec-lawyer-of-bias","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mark-cuban-accuses-former-sec-lawyer-of-bias\/","title":{"rendered":"Mark Cuban accuses former SEC lawyer of bias"},"content":{"rendered":"<p>Billionaire Mark Cuban entered into a debate with former <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> lawyer John Reed Stark, saying that the regulator &#8220;is throwing cryptocurrency under the bus&#8221;.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">John. I think you are misreading the impact of what the judge said. It\u2019s not related to this suit. <\/p>\n<p>Not all crypto businesses that have tokens or are considering using tokens are large \u201centerprises\u201d. Which is the assumption, I believe you are making. (Correct me if I\u2019m wrong\u2026<\/p>\n<p>\u2014 Mark Cuban (@mcuban) <a href=\"https:\/\/twitter.com\/mcuban\/status\/1669081002063585285?ref_src=twsrc%5Etfw\">June 14, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script> <\/p>\n<p>On June 14 Stark published a post about the <a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-binance-and-changpeng-zhao\">Commission against Binance<\/a> case. He analyzed the transcript of the latest hearing and shared his view of what was happening.\u00a0<\/p>\n<p>The lawyer expressed support for the SEC, noting regulatory failures in the industry. In his view, the court case would help root out &#8220;wrongdoers&#8221; and enhance transparency.<\/p>\n<p>In response, Cuban said that the former agency official misinterpreted the judge&#8217;s words, and SEC chief Gary Gensler is sabotaging the entire crypto market.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Such complex legal and financial issues are better resolved through regulation or rulemaking, rather than through litigation, but I do not head the executive branch,&#8221; said Judge Amy Jackson during one of the hearings.\u00a0<\/p>\n<\/blockquote>\n<p>Stark argued that regulators should treat crypto-related companies as &#8220;large enterprises&#8221;. But the billionaire said the opposite. In his view, most crypto startups are small teams without resources for a &#8220;securities lawyer&#8221;.\u00a0<\/p>\n<p>The discussion turned to the most appropriate regulation of digital assets. The lawyer insisted that cryptocurrencies should not be equated with stocks or <span data-descr=\"Pink Sheets \u2014 the US over-the-counter stock trading system\" class=\"old_tooltip\">pink sheets<\/span>.<\/p>\n<p>Cuban named Stark&#8217;s position biased. He suggested that tokens could be treated the same as other securities, but for that the SEC would need to formulate clearer rules.<\/p>\n<p>The businessman conceded that, like all early internet companies, &#8220;90% of blockchain projects&#8221; and &#8220;99% of tokens&#8221; will fail.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Those who win will change the rules of the game. That&#8217;s how technologies work,&#8221; he noted.<\/p>\n<\/blockquote>\n<p>Cuban also spoke of the &#8220;crypto-psychological disorder&#8221; \u2014 this is his term for irrational aversion to digital assets and blockchain. He also noted the rise of &#8220;crypto maximalism&#8221; due to excessive PR.\u00a0\u00a0\u00a0<\/p>\n<p>John Reed Stark <a href=\"https:\/\/forklog.com\/en\/news\/former-sec-official-urges-asset-withdrawals-from-crypto-platforms\">predicted<\/a> a lengthy battle between crypto exchanges and the SEC. He urged clients of trading platforms to &#8220;stop using them right away&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire Mark Cuban entered into a debate with former SEC lawyer John Reed Stark, saying that the regulator &#8216;is throwing cryptocurrency under the bus&#8217;.<\/p>\n","protected":false},"author":1,"featured_media":80323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1551,1138,36,128],"class_list":["post-80322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-mark-cuban","tag-opinions","tag-regulation","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80322"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80322\/revisions"}],"predecessor-version":[{"id":80324,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80322\/revisions\/80324"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80323"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}