Billionaire Mark Cuban has stated that it is impossible to determine from current SEC filings whether a digital asset is a security or not. At the same time, regulation is much more transparent in other areas.
Mark Cuban noted that the U.S. Securities and Exchange Commission (SEC) has failed to provide clear registration rules for cryptocurrency firms. The document “Guidelines for the analysis of digital assets for the subject of an investment contract” provides little guidance on how to determine whether an asset belongs to the class of securities.
At the same time, Cuban emphasized that regulatory requirements in other financial sectors are much more transparent. For example, instead of calling “stock loans” securities and penalizing brokers and banks, the SEC is launching “comment processes.” He noted that in the case of cryptocurrencies, it is also necessary to follow this path in order to determine which aspects of digital assets are eligible for regulation as securities.
Previously, Cuban suggested a way for cryptocurrency companies to avoid persecution by regulators – to do this, when issuing an asset, you need to create a company, launch the tokens themselves on DeFi sites, and then close the company. Then the SEC or other regulators will not be able to impose fines and prohibitions, and the asset itself will be truly decentralized.
Source: Cryptocurrency
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