- Mark Cuban claims that Gensler is āawfulā for crypto and all businesses
- Cuban highlighted Harrisās promise to advance technologies such as AI and blockchain
- Lawyer John Deaton said Cuban would be a ābreath of fresh airā unlike the ālawlessness of Gary Genslerā as head of the SEC
Billionaire entrepreneur Mark Cuban has said heād be interested in becoming the chair of the US Securities and Exchange Commission (SEC) if Kamala Harris becomes the next President of the White House.
Speaking on Fox News in an interview with Neil Caputo, the Dallas Mavericks owner was asked whether heād be interested in positions such as the Treasury Secretary or the Commerce Secretary under a Harris administration.
The crypto friendly billionaire responded by saying:
āHead of the SEC. Thatās the job I would take.ā
He added that heād be open to working as the head of the Department of Health and Human Services (HHS), ābut somebody needs to replace Gary Genslerā who is the SECās chair.
Cuban continued by highlighting Harrisās promise to advance technologies such as artificial intelligence and blockchain. Earlier this week, Harris delivered ā what are believed to be her first ā crypto-positive remarks at a New York fundraiser.
During her speech, she said under her administration, she would āencourage innovative technologies like AI and digital assets.ā
However, when pushed further by Caputo about potentially replacing Gensler, Cuban said ābottom line, heās awful, particularly for crypto and for businesses in general.ā
A blight on technology
Cuban hasnāt been one to shy away from criticizing Gensler and the SECās policies and regulatory approach to crypto companies.
Recently, the entrepreneur took to X, commenting on Rep. Richie Torresās post, where the head of the SEC claimed that NFTs were securities.
Gensler is gone https://t.co/NbPd4RQkM7
ā Mark Cuban (@mcuban) September 24, 2024
In an earlier message on the social media site, Cuban argued that Gensler was āa blight on the technology community.ā
Gary Gensler is a blight on the technology community. He says Howey is the law of the land. If it was, there never would be a reason for Reves vs Ernst &Young to exist https://t.co/QebV6xb3uy
ā Mark Cuban (@mcuban) September 24, 2024
For many, Gensler has taken a hard-line approach to crypto companies, often labeling them as securities and taking legal action against those that supposedly violate securities laws. It it this lack of clarity that is putting a damper on the industryās growth in the US.
Some think that if Cuban were to replace Gensler, heād be a ābreath of fresh airā unlike the ālawlessness of Gary Gensler,ā as stated by John Deaton, a lawyer and entrepreneur. To help advance the space with more regulatory clarity, many in the space will be waiting to see who will next be the head of the SEC.