According to ChainCatcher, billionaire and crypto-friendly Mark Cuban said on Twitter that Japan learned a lesson from the Mt Gox incident and reformed its regulatory system so that when the biggest failure in the history of cryptocurrency occurred, it did not harm Japanese stakeholders. In contrast, the US Securities and Exchange Commission did not learn a lesson and still believed that the registration process alone was enough to protect investors.
Cuban emphasized Japan's approach of providing opportunities to entrepreneurs to promote innovation. He believes that the U.S. Securities and Exchange Commission has done a poor job in protecting investors from fraud and hopes that crypto finance will be fully regulated like current financial institutions.
