Mark Cuban: The SEC has not learned from the Mt. Gox incident, believing that the registration process alone is sufficient to protect investors

ChainCatcher news, billionaire and crypto-friendly figure Mark Cuban stated on Twitter that Japan has learned from the Mt Gox incident and reformed its regulatory system, ensuring that when the largest failure in cryptocurrency history occurred, it did not harm the stakeholders in Japan. In contrast, the U.S. Securities and Exchange Commission has not learned from this lesson. They still believe that merely the registration process is sufficient to protect investors.

Cuban emphasized Japan's practice of providing opportunities for entrepreneurs, thereby promoting innovation. He believes that the U.S. SEC has done a poor job of protecting investors from fraud and hopes that crypto finance will be adequately regulated like current financial institutions.