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 Nakamoto introduced Bitcoin to the world approximately 14 years ago today with the publication of the Bitcoin whitepaper.
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. He wrote on Oct. 31:
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.
At the time of writing, his tweet has received nearly 2,500 comments and has been liked more than 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. A few urged Gensler to clarify crypto regulation. 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.
Crypto lawyer and XRP supporter John Deaton replied to Gensler:
Quit acting like you wouldn’t hand Satoshi a subpoena if you could.
Gensler has been criticized by lawmakers and industry participants for his enforcement-centric approach to regulating the crypto sector. Last month, he said he has asked SEC staff to fine-tune crypto compliance. He wants to regulate the crypto sector using “one rule book.”
Many people have urged him to provide clarity on crypto regulation but the SEC chief has insisted that the law is clear. He has stated on several occasions that bitcoin is a commodity while most other crypto tokens are securities.
What do you think about the comments by SEC Chairman Gary Gensler? Let us know in the comments section below.