Billionaire investor Mark Cuban expressed to Vice President Kamala Harris' crypto advisor that the collapse of FTX could have been prevented with different SEC leadership. Cuban highlighted the SEC's reliance on enforcement through litigation rather than proactive regulation tailored to the crypto industry. He pointed to Japan's regulatory framework as a model that could have averted the crisis in 2022. Japan mandates strict oversight of crypto exchanges, requiring them to separate customer assets and maintain reserves. Cuban emphasized the importance of holding collateral for digital assets in cold storage to protect customer funds. The tensions between political camps in crypto, particularly regarding regulations, have intensified leading up to the U.S. election. Cuban's discussions with Harris' camp suggest a push for stronger regulations to prevent industry collapses. The industry awaits clarity on future policies from both political parties. Read more AI-generated news on: https://app.chaingpt.org/news

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