United States Securities Commission (SEC) Chairman Gary Gensler wished a happy birthday to Satoshi Nakamoto’s Bitcoin white paper. “It has driven innovation and investment in crypto-assets. Let’s make sure, as crypto enters its 15th year, that investors have adequate protection“, said the chairman of the SEC.
SEC Chairman Gary Gensler wishes a happy birthday to Satoshi Nakamoto’s bitcoin white paper.
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 United States Securities Commission (SEC) Chairman Gary Gensler. He wrote on October 31:
Happy 14th birthday white paper Satoshi Nakamoto ! It has driven innovation and investment in crypto assets. As crypto enters its fifteenth 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 acknowledging Satoshi Nakamoto’s seminal work, many claimed that the boss of the DRY did not have crypto interests in mind, with some accusing him of trolling. A few urged Gary Gensler to clarify cryptocurrency regulations. Some have criticized him for not approving an exchange-traded fund (ETF) for the bitcoinwhile others reminded him that he had no jurisdiction over the cryptocurrency industry, as Congress had not granted him that authority.
Cryptocurrency attorney and XRP supporter John Deaton responded to Gensler:
Stop acting like you wouldn’t deliver 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 crypto industry regulation. Last month, he said he had asked SEC staff to fine-tune crypto compliance. He wants to regulate the cryptocurrency industry using “one regulation”.
Many people have urged him to provide clarity on crypto regulation, but the SEC chief insisted that the law is clear. He has repeatedly stated that bitcoin is a commodity while most other crypto tokens are securities.