FameEX Hot Topics | SEC Chair Celebrates Bitcoin White Paper's ‘Sweet Sixteen’ Anniversary

In a recent interview with Bloomberg, SEC Chair Gary Gensler reiterated his firm stance on regulating cryptocurrencies, stating that the agency will maintain its “regulation by enforcement” approach. Since assuming the role in 2021, Gensler has provided mixed signals on crypto regulation but has consistently emphasized the importance of investor protection and risk management.

During the October 22 interview, Gensler avoided directly addressing questions on digital asset regulation and instead wished Bitcoin a “sweet sixteen” in honor of the upcoming anniversary of its white paper, originally published on October 31, 2008. He emphasized that the SEC would continue its current regulatory path, stressing the importance of mitigating risks associated with digital assets. “We have benefited for nine decades from robust laws from Congress and rules from various agencies, to help promote the markets — to protect investors, to promote capital formation and the markets in the middle, and that’s what we’ll continue to do,” Gensler said.

Reporters also raised questions about Gensler’s future as SEC Chair, especially considering Republican presidential candidate Donald Trump’s campaign pledge to remove him “on day one” if elected in 2024. Gensler chose not to comment on the potential of being ousted or on Trump’s proposed World Liberty Financial project, instead focusing on the SEC’s ongoing regulatory duties. The interview came shortly after the SEC’s Division of Examinations announced that crypto assets would be a priority focus area for 2025.

Gensler’s regulatory approach has drawn criticism from both business leaders and lawmakers, who argue that his strategy of “regulation by enforcement” hampers innovation and fails to provide clear guidelines for the crypto industry. However, despite the backlash, Gensler has shown no signs of easing the commission’s enforcement actions against entities that do not comply with existing regulations.

The October 31 date marks the 16th anniversary of Bitcoin’s white paper, introduced by its pseudonymous creator, Satoshi Nakamoto, via the cypherpunk mailing list. The first Bitcoin transaction, known as Genesis Block Day, took place on January 3, 2009, marking the beginning of the cryptocurrency’s journey.

A recent HBO documentary speculated that cryptographer Peter Todd could be Satoshi Nakamoto, though many viewers were skeptical of the film’s conclusions. The true identity of Bitcoin’s creator remains a mystery, with some theories suggesting early contributor Hal Finney and Hashcash inventor Adam Back, but no conclusive evidence has emerged to date.

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