Mark Cuban Interested in SEC Chair Role if Harris Elected

Crypto News

Mark Cuban Shows Interest in SEC Chair Role if Kamala Harris Elected

Written by Gode S.,

Web3 Market Analyst

Last Updated: September 27, 2024

Key Takeaways

Mark Cuban has expressed an interest in chairing the SEC if Kamala Harris wins the presidency;
Cuban has been critical of current SEC Chair Gary Gensler's approach in crypto regulation;
Harris recently voiced support for innovation in crypto, marking a shift from the Biden administration's cautious stance.

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Mark Cuban Shows Interest in SEC Chair Role if Kamala Harris Elected

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Mark Cuban, a strong advocate for crypto and Kamala Harris' presidential campaign, has expressed a genuine interest in leading the US Securities and Exchange Commission (SEC) if Harris wins the presidency in November.

The entrepreneur has often voiced dissatisfaction with the current SEC leadership. He has been particularly critical of Gary Gensler, the current SEC chair, over what he views as an overly aggressive approach toward regulating crypto firms.

While Harris is currently part of the Biden administration, which has taken a more cautious approach toward digital currencies, Cuban has reportedly engaged with her advisors to discuss crypto policies, stating that she would be "far more open" to the industry.

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Recently, Harris made her first public statements on digital assets. During a Wall Street fundraiser in Manhattan on September 23, she emphasized the importance of driving innovation in artificial intelligence (AI) and crypto while protecting investors. She reiterated this view at the Economic Club of Pittsburgh, where she spoke about her focus on keeping the US a leader in these industries, a statement that is also featured in her economic plan.

After the Pittsburgh event, when asked if he would consider a role in a potential Harris administration, Cuban responded:

Head of the SEC. That's the job I would take. <...> Someone needs to replace Gary Gensler. <...> He's awful, particularly for crypto and for businesses in general.

Gary Gensler is known for his "regulation by enforcement" approach, recently targeting the Flyfish Club over an alleged sale of unregistered crypto asset securities through non-fungible tokens (NFTs).

Cuban's willingness to lead the SEC demonstrates his commitment to reshaping the regulatory framework for crypto and the broader financial industry.