'Near impossible to know' what is and isn't a security: Mark Cuban on SEC
The billionaire is the latest to argue that the United States Securities and Exchange Commission hasn’t provided crypto firms with a registration process to follow. Billionaire investor Mark Cuban has become one of the latest industry figures to call out the United States securities regulator for purportedly failing to provide cryptocurrency firms with a clear registration process. The Shark Tank investor claimed in a June 11 tweet that no registration exists in the SEC’s “Framework for ‘Investment Contract’ Analysis of Digital Assets” document, making it “near impossible to know” what constitutes a security in the “crypto universe.” “Unfortunately none of the elements presented in this page are part of the registration process. Which makes it near impossible to know, with or without an army of securities lawyers, what is or is not a security in the crypto universe.” This is an SEC WEB PAGE about the howey test and tokens that often conflicts with what @SEC_Enforcement has said pu...