Mark Cuban says crypto regulation 'built around existing fraud laws' wouldn't necessarily be a bad thing (via CNBCMakeIt)
The subject of additional regulation in the crypto space has been especially buzzy lately, and on Tuesday, Gary Gensler, chairman of the Securities and Exchange Commission, told the Senate Banking Committee that the SEC isfor crypto markets to protect investors, among other things.
In response, both the crypto community and its critics have shared their own thoughts. Among those speaking up is billionaire investor Mark Cuban.in a thread on Thursday. "It will require Proof of Authorship and identity, but it won't hurt innovation, nor slow anything down.
Cuban also predicted which areas he thinks will be increasingly regulated, according to his current understanding of the crypto space. For one, he thinks that stablecoins, or cryptocurrencies that are supposed to be pegged to reserve assets like fiat currency, will be "the first to get regulated." "Why? The variance in the definition by product. What is a peg? What is an algorithmic stablecoin? Is it stable? Do buyers understand what the risks are? It needs standards," he said.
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