According to Decrypt, billionaire investor Mark Cuban stated in an interview that he had pointed out to US Vice President Kamala Harris' cryptocurrency advisor that the collapse of FTX could have been avoided if Gary Gensler had not led the US Securities and Exchange Commission (SEC). Cuban criticized SEC Chairman Gary Gensler for overly relying on litigation enforcement rather than developing targeted regulatory policies for the cryptocurrency industry. He specifically mentioned Japan's regulatory model, believing that its practice of requiring cryptocurrency companies to provide full collateral for digital assets held by customers is worth learning from. If Gensler had adopted a similar approach to Japan, companies such as FTX and ThreeArrowsCapital would not have gone bankrupt, "said Cuban Japan has implemented a comprehensive digital asset regulatory framework since 2017, requiring exchanges to strictly separate customer assets and maintain sufficient reserves.  @srud