U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler wished Satoshi Nakamoto’s Bitcoin white paper a happy birthday. “It led to innovation and investment in crypto-assets. Let’s make sure, as crypto enters its 15th year, that investors have adequate protection“, said the SEC chairman.
SEC Chairman Gary Gensler wishes Satoshi Nakamoto’s bitcoin white paper a happy birthday.
Satoshi Nakamoto introduced bitcoin to the world about 14 years ago today with the release of the bitcoin white paper.
Many people tweeted a happy birthday to the pseudo-creator’s white paper, including U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler. He wrote on October 31:
Happy 14th birthday to Satoshi Nakamoto’s white paper! It led to innovation and investment in crypto assets. As crypto enters its 15th year, let’s make sure investors are properly protected.
Happy 14th birthday to Satoshi Nakamoto’s whitepaper! It has led to innovation and crypto asset investing. Let’s make sure as crypto enters its 15th year that investors get proper protection.
– Gary Gensler (@GaryGensler) October 31, 2022
While some people thanked him for recognizing Satoshi Nakamoto’s seminal work, many claimed that the SEC boss didn’t have the interest of crypto in mind, with some accusing him of trolling. A few urged Gary Gensler to clarify the regulation of crypto-currencies. Some criticized him for not approving an exchange-traded fund (ETF) for bitcoin, while others reminded him that he has no jurisdiction over the crypto-currency industry, as Congress did not grant him that authority.
Crypto-currency lawyer and XRP supporter John Deaton responded to Gensler:
Stop acting like you wouldn’t hand a subpoena to Satoshi if you could.
Quit acting like you wouldn’t hand Satoshi a subpoena if you could.
– John E Deaton (220K Followers Beware Imposters) (@JohnEDeaton1) October 31, 2022
Gary Gensler has been criticized by lawmakers and industry participants for his enforcement-centric approach to regulating the crypto industry. Last month, he said he had asked SEC staff to sharpen crypto compliance. He wants to regulate the crypto-currency industry with “one regulation.”
Many people have urged him to provide clarity on crypto regulation, but the SEC chief has insisted that the law is clear. He has repeatedly stated that bitcoin is a commodity while most other crypto tokens are securities.