Mark Cuban, a prominent billionaire and tech mogul, has criticized the SEC's approach to regulating the cryptocurrency industry, pointing out their alleged hypocrisy in treating traditional stock loans differently from cryptocurrency assets. He called for a similar approach to be taken with crypto and suggested a thorough evaluation to determine which aspects should be classified as securities and how to regulate the industry to protect investors.

Cuban also proposed a simple test to determine if a token should be considered a security. Interestingly, the SEC's recent actions have led to Cardano's native token, ADA, being delisted from Robinhood, despite Cuban previously stating that Cardano had minimal impact on the industry.