SEC Chair Gary Gensler wished a happy 15th anniversary to Satoshi Nakamoto’s famous White Paper that started crypto today.
Satoshi’s Bitcoin whitepaper is the original thesis paper written under Satoshi Nakamoto’s pseudonym on October 31, 2008. It’s understood to have set the basic structure of the Bitcoin network and outlined Satoshi’s idea for an electronic currency that can make transactions with low costs while using no financial institutions or third parties.
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Since then, cryptocurrency has taken the world of finance by storm and is used by millions. It is even being regulated by governments globally. The SEC’s chair Gary Gensler is one of the more outspoken faces against crypto in the US, hence, his comments wishing the Satoshi White Paper a happy anniversary on Halloween are ironic.
While wishing the thesis paper a happy anniversary and Halloween, Gensler says “Any crypto companies that are tricking investors should start treating them to compliance with the securities laws.” The SEC is in an ongoing battle with the crypto world, especially pending Spot Bitcoin ETF applications, for strong regulation. However, recent incidents have seen it begin to lose that battle. Additionally, there are many calls of action against Gensler, with some representatives urging him to step down as SEC Chair.