Mark Cuban Dismayed with Tighter Regulations on Crypto – Compares it to Cutting Off e-commerce in ‘95

Mark Cuban has not failed to make his disappointment apparent regarding the tight leash on crypto transactions brought on by the infrastructure bill that passed on Tuesday.

The Senate passing the infrastructure bill which aims to disperse $1 trillion in building roads and bridges amid other structures while strengthening regulations for crypto markets has left many leaders of the industry eager to react and speak up against such measures.

Mark Cuban stated for the Washington Post that decisions like these are driven by the fear of the unknown, but if similar decisions were made in the beginnings of the internet or e-commerce, the world would look much different today.

Cuban stipulated that similar to credit card fraud sabotaging the progress of e-commerce or the complexity of websites stopping their progress, these regulations are detrimental to the growth of crypto markets.

As a huge supporter of DeFi and crypto, Cuban has enabled Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) payments for merchandise and tickets of The Dallas Mavericks. Also, he said that the future will hold so much for crypto and decentralized finance, that ever living without it will become a distant and insurmountable memory.

The infrastructure bill that passed yesterday without having set clear definitions on crypto has had a lot of reactions. Even with the bill passing with a 63-30 vote, Senator Toomey urged for the amendment to exclude noncustodial brokers from the obligation of information reporting. 

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