Token

<figure><img src="https://u.today//sites/default/files/styles/1200x900/public/2023-06/36285.jpg" alt="Cover Image" width="800"
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 </figure>Billionaire entrepreneur <a href="https://u.today/cardano-critic-mark-cuban-predicts-99-of-tokens-doomed-to-bankruptcy">Mark Cuban</a> has urged for a revamped legal framework for token regulation in a series of tweets.Drawing a comparison between the complexity of digital content law and the potential for varied token types, Cuban argued that a new system should be implemented by the Securities and Exchange Commission (SEC). "Thinking more of the need for a different form of registration for multi function tokens by the SEC, there is a legal precedent. Look at content," he said. Cuban's tweets have opened a new discussion on the multifaceted potential of tokens in contrast to the predominantly one-dimensional approach currently employed by the SEC.According to the billionaire, "When an asset is multi-function, it's impossible to determine the intent of the owner, buyer, or seller. Which is why the SEC needs to offer a registration process that is specific to crypto tokens and future multi-function digital assets." This highlights the complexity and nuances of a rapidly evolving cryptocurrency market.<a href="https://u.today/binance-receives-important-validation-in-court-documents">card</a>In the conversation, the billionaire also referenced a recent <a href="https://u.today/ripple-v-sec-law-veteran-thinks-settlement-is-unlikely-heres-why">SEC</a> interaction with Coinbase, the largest cryptocurrency exchange in the U.S., hinting at the legal difficulties even for companies complying with existing rules.Cuban mentioned the hurdles that start-ups have to jump through if they're looking to raise up to $10 million, including hiring a securities lawyer and going through a detailed SEC process. This, Cuban argues, fails to deal with the trading aspect of the token after the fact, reflecting a disconnect in the current regulatory framework.

Billionaire Mark Cuban Calls for Legal Overhaul of Token Regulation Framework

U_Today

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