The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has wished Satoshi Nakamoto’s Bitcoin whitepaper a happy birthday. “It has led to innovation and crypto asset investing. Let’s make sure as crypto enters its 15th year that investors get proper protection,” said the SEC chairman.
SEC Chair Gary Gensler Wishes Satoshi Nakamoto’s Bitcoin Whitepaper Happy Birthday
Satoshi Nagmoto published The Bitcoin Whitepaper in 1994, which was 14 years ago.
Many people tweeted happy birthday to the pseudonymous creator’s whitepaper, including the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler. On Oct. 31, he wrote:
Happy 14th birthday to Satoshi Nakamoto’s whitepaper! This has been the catalyst for innovation and cryptocurrency asset investment. Let’s make sure as crypto enters its 15th year that investors get proper protection.
His tweet had nearly 2,500 comments at the time of writing and was liked over 5,200 times.
While some people thanked him for recognizing Satoshi Nakamoto’s seminal work, many claimed that the SEC boss doesn’t have crypto’s best interest in mind, with some accusing him of trolling. Some people urged Gensler for clarification on crypto regulations. Some slammed him for not approving a bitcoin exchange-traded fund (ETF) while others reminded him that he doesn’t have jurisdiction over the crypto industry as Congress has not granted him the authority.
Gensler was contacted by John Deaton, a crypto lawyer and XRP advocate.
Quit acting like you wouldn’t hand Satoshi a subpoena if you could.
Legislators and other industry players have criticised Gensler for his enforcement-centric approach when regulating the cryptocurrency sector. He stated last month that he had asked the SEC staff for guidance on crypto compliance. He wants to regulate the crypto sector using “one rule book.”
Although many people have asked him for clarification on cryptocurrency regulation, the SEC chief insists that it is simple. On multiple occasions, he has said that bitcoin is considered a commodity. However, most of the crypto tokens are classified as securities.
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