FameEX Hot Topics | SEC Chair Sends ‘Sweet Sixteen’ Wishes for Bitcoin White Paper Anniversary

In a recent interview with Bloomberg, SEC Chair Gary Gensler reaffirmed his stance on regulating cryptocurrencies, indicating no plans to change the agency's “regulation by enforcement” approach. Since taking charge of the SEC in 2021, Gensler has sent mixed messages regarding crypto regulation, but he has consistently emphasized investor protection and risk management.

During the October 22 interview, Gensler pivoted from addressing digital asset regulation directly, instead wishing Bitcoin a “sweet sixteen” in reference to the anniversary of its white paper, released on October 31, 2008. He reiterated that the SEC would continue its current course, considering the risks digital assets pose to investors. “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 questioned Gensler on his future as SEC Chair, especially given Republican presidential candidate Donald Trump’s promise to remove him “on day one” if elected in 2024. Gensler declined to comment on the possibility of his ousting or Trump’s proposed World Liberty Financial project, maintaining his focus on existing regulatory responsibilities. The interview followed an announcement by the SEC’s Division of Examinations, which identified crypto assets as a priority area for 2025.

Gensler’s approach has faced criticism from business leaders and lawmakers, who argue that “regulation by enforcement” stifles innovation and clarity in the crypto industry. Despite the backlash, Gensler has not signaled any intention to soften the commission’s actions against non-compliant entities in the crypto space.

The October 31 date marks 16 years since the release of Bitcoin’s white paper by pseudonymous creator Satoshi Nakamoto on the cypherpunk mailing list. The first Bitcoin transaction, known as Genesis Block Day, occurred on January 3, 2009. 

While a recent HBO documentary speculated that cryptographer Peter Todd could be Nakamoto, many viewers questioned the film’s conclusions. The true identity of Bitcoin’s creator remains a mystery, with some theories pointing to early contributor Hal Finney and Hashcash inventor Adam Back, but no definitive evidence has emerged.

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