Canadian MP Thanks Satoshi Nakamoto on Bitcoin’s 15th Anniversary
On the 15th anniversary of the release of the Bitcoin white paper, Canadian Member of Parliament (MP) Joël Lightbound expressed gratitude to the anonymous creator of Bitcoin, Satoshi Nakamoto, during a speech in the Canadian parliament. Lightbound also encouraged people to study and understand the leading cryptocurrency instead of advocating for its purchase.
In his speech, Lightbound highlighted that Bitcoin was developed during a financial crisis and has since become a tool to empower individuals in underbanked communities and oppressive regimes. He acknowledged the positive impact of Bitcoin in protecting families from currency debasement.
Quotes from Jack Dorsey and Gary Gensler
During his address, Lightbound referenced quotes from former Twitter CEO Jack Dorsey and current US Securities and Exchange Commission (SEC) chair Gary Gensler. Notably, Gensler’s quote was from 2019, prior to his appointment as SEC chair.
Gensler’s 2019 opinion piece praised Nakamoto’s creation for its potential to lower verification and networking costs, reduce economic rents and data privacy costs, and promote economic inclusion.
Gensler’s Controversial Stint as SEC Chair
Since assuming his role as SEC chair, Gensler has faced criticism from the crypto community due to his regulatory approach. On the anniversary of the Bitcoin white paper, Gensler tweeted a compliance message emphasizing the need for crypto companies to adhere to securities laws.
Prior to his appointment, many in the crypto community had high hopes for Gensler given his background in teaching about cryptocurrencies. However, his tenure as SEC chair has been met with disappointment among crypto enthusiasts.
Hot Take: Reflections on Bitcoin’s Impact
Bitcoin’s 15th anniversary serves as a reminder of the transformative potential of cryptocurrencies. As governments and regulators grapple with the regulation of digital assets, it is crucial for individuals to study and understand the technology behind Bitcoin and other cryptocurrencies. The decentralized nature of cryptocurrencies empowers individuals, particularly those in underbanked communities, by providing them with financial inclusion and protection from economic crises. While controversies surrounding regulatory approaches persist, it is important to recognize the positive impact that Bitcoin has had on thousands of families worldwide.
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