Satoshi Nakamoto Congratulated by SEC Chairman for Bitcoin Whitepaper’s 15th Anniversary
Gary Gensler, the Chairman of the United States Securities and Exchange Commission (SEC), has joined crypto enthusiasts in congratulating Satoshi Nakamoto on the 15th anniversary of the publication of the Bitcoin Whitepaper. As the overseer of the financial market in the US, Gensler recognized Nakamoto’s role in starting the crypto revolution. He pondered whether we would be able to recognize Nakamoto if he dressed up as himself for Halloween. Since the introduction of the Bitcoin Whitepaper, the crypto market has grown to a worth of $1.27 trillion, with thousands of altcoins, NFTs, and DeFi protocols.
SEC’s Fight Against Fraud
In recent years, the SEC has been actively combating fraud in the crypto industry and has filed lawsuits against several businesses. This has led some experts to believe that it is engaged in a witch hunt. One high-profile case is the ongoing Ripple lawsuit filed by former SEC Chair Jay Clayton. However, there have been some victories for Ripple as charges against its executives were dropped and XRP was declared non-security by Judge Analisa Torres. Despite these cases, Gensler warned crypto firms to comply with securities laws.
Demand from Crypto Enthusiasts
Crypto enthusiasts have flooded Gary Gensler’s timeline with their demands from the SEC. Many are seeking approval for Bitcoin spot exchange-traded funds (ETFs), which have been pursued for over a decade. The SEC is currently reviewing 8 to 10 ETF applications from firms like BlackRock, Fidelity, Ark Invest, and Bitwise. The caliber of these applicants and pressure from lawmakers may influence Gensler’s decision on approving Bitcoin spot ETFs.
Hot Take: Gary Gensler Acknowledges Satoshi Nakamoto’s Impact on Crypto
SEC Chairman Gary Gensler has acknowledged the role of Satoshi Nakamoto in starting the crypto revolution with the publication of the Bitcoin Whitepaper. The crypto market has since grown exponentially, featuring thousands of altcoins, NFTs, and DeFi protocols. While the SEC has been fighting fraud in the industry, it has faced criticism for its approach. The ongoing Ripple lawsuit is one example, but there have been wins for Ripple as well. Despite this, Gensler emphasized the importance of complying with securities laws for crypto firms. The demand for Bitcoin spot ETF approvals is high among crypto enthusiasts, and Gensler’s recognition of Nakamoto may indicate a potential shift in the SEC’s stance on ETF applications.
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