Mark Cuban calls on the U.S. CFTC to gain regulatory authority over the entire cryptocurrency industry before the presidential election

ChainCatcher news, according to Cointelegraph, billionaire investor Mark Cuban urged the U.S. Commodity Futures Trading Commission (CFTC) to take responsibility for regulating all cryptocurrencies, and ultimately requested the U.S. Congress to provide clear regulations for the crypto industry before the 2024 presidential election.

Cuban believes that this clarity could help Joe Biden secure another presidential term, as legislation could address Biden's issue by defining specific registrations for the crypto industry, similar to how other industries have registrations defined for them. If Biden cannot be re-elected, the U.S. SEC and its chairman Gary Gensler may be held accountable, as cryptocurrency voters will make their voices heard in this election. Cuban agrees with the views of the crypto community that Gensler's enforcement-focused regulatory approach makes it nearly impossible for compliant crypto companies to operate within the United States.