Mark Cuban Expresses Interest in SEC Leadership, Criticizes Current Chair

Mark Cuban As Treasury Secretary? No, 'Head Of The SEC' Is The Job He'd Take Because Gary Gensler Has Been 'Awful' For Crypto, Businesses

Cuban praises Kamala Harris's thorough approach to policy-making, contrasting it with the current administration's handling of regulations. Billionaire entrepreneur Mark Cuban has voiced his interest in becoming the next Chair of the U.S. Securities and Exchange Commission (SEC), expressing dissatisfaction with the current SEC leadership, especially in its handling of cryptocurrencies and business regulations. What Happened: "Head of the SEC. That's the job I would take," Cuban said, in an interview with Fox News, emphasizing his desire to replace the current Chair, Gary Gensler. Cuban's criticism centers on the regulatory agency's approach to crypto, which he describes as "awful." He believes the current SEC policies are stifling business growth, particularly in the crypto sector. "We've seen the number of public companies just be decimated," he added, underscoring his concerns about the negative impact of the current regulatory environment. The timing of Cuban's statements is noteworthy, as the crypto industry eagerly anticipates clearer regulations and more robust oversight. Also Read: Trump Or Harris Win, US Presidential Election Is A Win-Win For The Crypto Market: QCP Capital Cuban argues that the SEC's current actions are hindering the potential of emerging financial technologies, including blockchain and digital assets. His willingness to take on the SEC role signals a potential shift in regulatory attitudes, especially concerning crypto. Cuban's criticism comes as Vice President Kamala Harris, a candidate in the presidential race, recently reaffirmed her support for cryptocurrencies and innovative technologies like AI and blockchain. Cuban praised Harris's approach, stating that her team is thorough and precise in vetting policies, which contrasts sharply with his views on the current administration. "She takes the time to vet her policies thoroughly, and when she says them and presents them, they are what they are. They're self-explanatory," Cuban said. The debate over regulatory leadership and policy direction in the crypto space will undoubtedly be a hot topic at Benzinga's Future of Digital Assets event on Nov. 19. Read Next: Drake-Related Meme Coin WYNN: From $85M Market Cap To $1.5M -- The Dogecoin And Shiba Inu Dreams Are Over Image: Shutterstock Market News and Data brought to you by Benzinga APIs

Mark Cuban Isn't Playing: He Really Wants to Chair SEC in Harris Admin - Decrypt

Apparently it's not a joke. Mark Cuban reiterated his interest in leading the U.S. Security and Exchange Commission (SEC) on Thursday, confirming to Decrypt that he really is open to chairing the financial regulator if Kamala Harris is elected president in November. Cuban, an outspoken supporter of both the crypto industry and Harris' presidential campaign, has long been critical of current SEC chair Gary Gensler's aggressive series of enforcement actions against a litany of American crypto firms. That line has often been a tough one to walk, though, given that Harris, as Vice President, is a key member of President Joe Biden's crypto-hostile administration. Since the earliest days of Harris' upstart presidential campaign, Cuban has emerged as one of the few crypto industry advocates with close connections to the Vice President's inner circle. He has apparently used that position to attempt to push the Democratic nominee away from her predecessor's skeptical stance on digital assets, and towards a more friendly one. In late July, less than two days after Harris launched her bid for president, Cuban told Decrypt that her camp reached out to him with "multiple questions" about crypto, a sign the billionaire entrepreneur took as encouraging. And in the last few days, Harris has made her first-ever recorded comments on the digital assets industry, both positive. On Sunday, she told a room of high-profile donors in Manhattan that she "will encourage innovative technologies like AI and digital assets while protecting our consumers and investors," according to a Bloomberg report. On Wednesday, in a speech before The Economic Club of Pittsburgh, she pledged that America would "remain dominant in AI and quantum computing, blockchain and other emerging technologies" under her leadership. Cuban attended the latter event, and after it, told a Fox News reporter that if he had any interest in joining a Harris Administration, it would be to replace Gary Gensler. "Head of the SEC," Cuban said. "That's the job I would take." At the time, it wasn't clear if Cuban was being facetious. While he has repeatedly lambasted Gensler for his treatment of the crypto industry, the day-to-day task of chairing the SEC is a granular one that involves regulating the stock market and all publicly traded companies. While Gensler had several federal government stints under his belt before taking the job, though, past SEC chairs -- such as former president Donald Trump's appointee to the position, Jay Clayton -- have come from the private sector with zero government experience. Cuban has an extensive track record as an entrepreneur and investor, and has been active in political fundraising for over a decade. He has never formally worked in government. In 2008, the SEC filed a lawsuit against Cuban, accusing him of insider trading. After the case was dismissed and then brought back to life on appeal, a federal jury in Texas unanimously found him not liable in 2013.