HomeNewsMark Cuban Slams SEC's Regulatory Approach in Ripple-XRP Controversy

Mark Cuban Slams SEC’s Regulatory Approach in Ripple-XRP Controversy

- Advertisement -
  • Mark Cuban condemns the SEC for their litigation-centric approach in the Ripple-XRP case, claiming it fails to protect small investors.
  • The billionaire suggests that clear rules from Congress or the SEC could resolve the situation.

Dallas Mavericks owner and ‘Shark Tank’ star, Mark Cuban, has expressed his critique of the U.S. Securities and Exchange Commission’s (SEC) approach in the ongoing case involving Ripple’s XRP. Cuban suggests that the SEC’s mission appears more aligned with relentless litigation rather than protecting the interests of smaller investors.

Mark Cuban’s Take on the SEC-Ripple Dispute

Mark Cuban has taken to Twitter to voice his stance on the SEC’s case against Ripple regarding XRP. His comments were made in response to the SEC’s filing against Terraform Labs and co-founder Do Kwon, where the regulator claimed the Ripple ruling was “erroneously adjudicated.” Cuban, however, voiced disagreement with the regulator’s depiction of every buyer as an investor.

- Advertisement -

Cuban asserted,

“That’s not the case and Ripple made that clear. Securities have one purpose, to be a security. For a DeFi or CEX buyer, it’s impossible to know why a buyer buys. But it is possible to look at the Blockchain and see there are transactions based on the utility of the token.”

He continued, criticizing the SEC’s decision to litigate rather than follow Japan’s example and establish clear regulations to protect investors. This litigation approach, he argues, sets unrealistic expectations for small entrepreneurs and investors in the crypto sector, expecting them to consult securities attorneys for guidance.

>> Buy XRP quickly and securely with PayPal, credit card or bank transfer at eToro with low fees and deposit protection. Get started with XRP now. Visit Website <<

- Advertisement -

From Cuban’s viewpoint, the SEC’s mission has deviated from the protection of small investors. He pointed to the billions of shares trading in bankrupt, pink sheet, and OTC companies as evidence of this deviation. In his words,

“Their goal is to litigate. And litigate more. And litigate more.”

Cuban believes that the current regulatory impasse could be easily resolved if the SEC or Congress set clear, definitive rules. The billionaire and Dallas Mavericks owner previously expressed that the SEC’s assumption that its framework covered every potential situation was arrogant.

This criticism comes amidst a growing call for clear legislation to regulate crypto by several U.S. lawmakers. Following the Ripple ruling, SEC Chairman Gary Gensler expressed disappointment but affirmed the regulator’s continued efforts to bring crypto firms into compliance. The SEC has also requested additional funds from Congress to handle crypto-related risks and transgressions.

Best Crypto Exchange for Everyone:

  • Invest in Ripple (XRP) and 70+ cryptocurrencies and 3,000 other assets.
  • 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
  • Copy top-performing traders in real time, automatically.
  • Regulated by financial authorities including FAC and FINRA.

2.8 Million Users

Get Started


- Advertisement -
ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
- Advertisment -spot_img