- SEC Chair Gary Gensler wished Bitcoin a ‘sweet sixteen’ for the 16th anniversary of its white paper release on October 31st, 2008
- Gensler suggested the SEC would maintain its approach of regulating crypto through enforcement actions, despite potential changes in leadership after the 2024 US elections
- October 31st marks 16 years since the pseudonymous Satoshi Nakamoto released the Bitcoin white paper, with the first Bitcoin transaction occurring a few months later on January 3rd, 2009
The chair of the SEC, Gary Gensler, recently weighed in on regulating cryptocurrencies and Bitcoin’s upcoming 16th anniversary.
Gensler suggests SEC will stay enforcement course on crypto
In an interview with Bloomberg, Gensler indicated that the SEC has no plans to change its “regulation by enforcement” approach when it comes to cryptocurrencies. Despite criticism from lawmakers and business leaders, Gensler deflected when asked if he would alter the SEC’s crypto crackdown.
He stated that financial markets have benefited from robust laws and rules for decades when it comes to protecting investors, promoting capital formation, and regulating markets. Gensler suggested the SEC will continue this approach when considering the risks posed by digital assets.
When asked how he would respond if replaced by a Republican administration, Gensler declined to comment.
Bitcoin’s white paper turns 16
This Halloween marks 16 years since the release of Satoshi Nakamoto’s Bitcoin white paper, which outlined the concept for the first cryptocurrency.
While Nakamoto’s true identity remains unknown, this anniversary is significant for launching the era of decentralized digital currencies and blockchain technology.
At the time of writing, Bitcoin’s price was around $67,400, up over 6% in the last 30 days. The first Bitcoin transaction took place in 2009, several months after the white paper’s release.
Conclusion
The SEC chair sent mixed messages on crypto regulation but wished Bitcoin a happy 16th birthday. Meanwhile, the regulator seems poised to continue its aggressive approach on crypto enforcement cases. The anniversary of the Bitcoin white paper serves as an important milestone for the cryptocurrency industry.
