Billionaire Mark Cuban has taken to social media to suggest that the US Securities and Exchange Commission (SEC) should draw inspiration from Japan's approach to cryptocurrency regulation. Cuban highlighted Japan's ability to learn from past failures, such as the collapse of Mt. Gox and the Coincheck hack, to effectively protect investors.

Cuban's comments came after he accused the SEC of attempting to stifle the cryptocurrency industry. He expressed frustration with the SEC's registration rules, stating that they make it impossible for companies to comply. Any investment opportunity involving token releases is a "no-go" for him due to the SEC's stance.

Cuban believes the SEC's broad approach has unfairly lumped legitimate companies alongside fraudulent cryptocurrencies. He criticized SEC Chair Gary Gensler's legacy, saying it makes it impossible for "good companies" to operate correctly.

In contrast, Japan is emerging as a thriving cryptocurrency hub, with politicians actively working to provide regulatory clarity. Ripple CEO Brad Garlinghouse, another SEC critic, has praised Japan's approach to cryptocurrency regulations. Japan's regulatory safeguards protected users of FTX Japan from the turmoil following the collapse of the main exchange in 2022.

The VP of Strategy & Operations at Ripple, Emi Yoshikawa, noted that Japan's regulator tightened compliance requirements to protect investors, which, although challenging for Japanese exchanges in the last bull cycle, was a sensible move for the long term.