“You should read up on how Japan deals with regulation. When FTX crashed, NO ONE IN FTX JAPAN LOST MONEY.” Mark Cuban.

He Follows,

If the USA/SEC had followed their example by setting clear regulations that required the separation of customer and business funds and clear wallet requirements, NO ONE HERE WOULD HAVE LOST MONEY ON FTX.

But of course they chose to litigate to regulate.

You need to face the fact of the matter that crypto is one more technology that will succeed or fail based on its merits.

It's the SEC that chose the wrong path to regulate Crypto and cost billions.

The SEC is not infallible. It makes mistakes. In this case it chose the wrong course. It was arrogant in thinking that it's framework covered every possible situation.

Tweet: https://twitter.com/mcuban/status/1676258204924407808?s=20

Reference: https://www.coindesk.com/consensus-magazine/2023/01/26/japan-embracing-crypto-industry-web3-dao-nft/