SEC Chief’s Bitcoin Whitepaper Tweet Triggers Industry Players

Halloween marks the birthday of Satoshi Nakamoto’s seminal Bitcoin white paper, which was launched on the crypto mailing list of on October 31, 2008 at approximately 2:10 PM ET.

The Bitcoin white paper introduced Bitcoin to the world and eventually gave birth to a new Crypto economy with over 13,000 crypto assets estimated at over $1 trillion. It opens the door for internet users to send and receive money globally on an open, decentralized, censorship-resistant and permissionless network.

As the white paper completes 14 years, cryptocurrency advocates such as investors, community members, developers and others celebrating the event on social media platforms have shown enthusiasm, but it is surprising that Gary Gensler, chairman of the US Securities Co., Ltd. Tweets and the Exchange Commission (SEC).

In his tweet, Gensler wished the Bitcoin white paper a happy birthday and thanked it for its contribution to embracing innovation and investing in crypto assets. He also commented that the common goal is to ensure the protection and safety of investor interests. The Commissioner’s tweet has received a wide-ranging response, with over 3,000 comments and over 8,000 likes at the time of writing.

Reactions to the tweet, however, were mixed, with some applauding Gensler’s gesture while others found it offensive. Among the 3,000 comments, some thanked the commissioner for appreciating Satoshi Nakamoto’s pioneering work, while others pointed out that he was not very friendly to cryptocurrencies. Some users also asked him for clearer cryptocurrency regulations, while some reminded him that he has no jurisdiction over the cryptocurrency industry because Congress did not give him the power.

Industry experts have often criticized Gensler for taking an enforcement-focused approach to the cryptocurrency industry, investors and cryptocurrency advocates. He commented on regulation of the industry, calling for a unified rulebook and reiterating that Bitcoin is a commodity, while most cryptocurrency tokens are securities.

Source of information: Compiled from TODAYQ by 0x Information.The copyright belongs to the author Samvidha Sharma and may not be reproduced without permission

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