NAIROBI (CoinChapter.com) — Joe Biden’s crypto hate is world-famous. And it has been amply supported by Gary Gensler, the notorious Securities and Exchange Commission chief. Now, Mark Cuban, a billionaire investor and crypto advocate, believes Gary Gensler’s crypto stance could cost President Joe Biden his U.S. presidential election. Cuban shared his views at Coinbase’s State of Crypto Summit.
Cuban criticized Gensler, the head of the U.S. Securities and Exchange Commission (SEC). According to Fox Business reporter Eleanor Terrett, Cuban warned that Gensler’s actions might “literally cost Joe Biden the election.”
He has long urged for a clearer regulatory framework. In May, he suggested that the U.S. Commodity Futures Trading Commission (CFTC) should oversee crypto regulations instead of the SEC.
Joe Biden’s Crypto Approach vs. Trump’s Pro-Crypto Stance
Joe Biden faces criticism from the crypto community for his administration’s stance on cryptocurrencies. Reports suggest Biden might consider accepting crypto donations for his campaign. However, this move may come too late.
In contrast, former President Donald Trump has adopted a pro-crypto stance, promising to end Biden’s “war on crypto.” Trump has pledged to safeguard the cryptocurrency industry and ensure its future in America.
He criticized Biden’s administration for its regulatory actions, positioning himself as a champion of the crypto community. As Coinchapter reported, Trump vowed to “ensure that the future of crypto and the future of Bitcoin will be made in America.
Crypto Voters and the 2024 Election
The 2024 U.S. presidential election could see crypto voters play a significant role. Cuban emphasized that crypto voters “will be heard this election.” He warned that Gensler’s regulatory actions might impact Joe Biden’s chances. Cuban’s views reflect a broader sentiment among crypto enthusiasts seeking supportive regulatory policies.
Biden’s reported discussions with crypto insiders indicate a potential shift in strategy. Accepting crypto donations could appeal to tech-savvy voters. However, the effectiveness of this move remains uncertain. The crypto community will closely watch how both candidates address their concerns.
