Mark Cuban, a renowned American billionaire investor, has expressed concerns that the chaos created by the Securities and Exchange Commission (SEC) could cost President Joe Biden his re-election. Cuban recently voiced these concerns to the media and is a long-time advocate for clearer regulations in the cryptocurrency sector.
As he shared at Coinbase’s State of Crypto Summit, Cuban believes that SEC Chairman Gary Gensler’s stance is a major factor that could sway voters and ultimately decide the election’s outcome. This is not the first time Cuban has criticized Gensler, as he previously stated that if Biden loses, it’s likely that Gensler will also depart from his position.
Notably, Cuban is not the only notable figure speaking out on the topic of cryptocurrencies. Donald Trump, the former US President, is also a strong supporter of the sector and has called for an end to the anti-crypto policies implemented by the SEC under Biden.
In contrast, Biden has historically maintained a strict stance on the crypto sector, with many viewing his administration as being somewhat opposed to the growth and adoption of digital assets. However, there have been hints that the Biden campaign is willing to consider accepting crypto donations through Coinbase Commerce, which could be seen as a nod towards increased openness towards the sector.
Only time will tell how these dynamics will play out in the upcoming election, set for November. Will Trump’s stance on cryptocurrencies sway voters in his favor, or will Biden’s evolving stance on the sector help him secure re-election?