{"id":815427,"date":"2024-12-28T03:22:21","date_gmt":"2024-12-28T09:22:21","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/28\/gary-gensler-gives-bitcoin-a-sweet-sixteen-shout-out-for-white-paper-anniversary\/"},"modified":"2024-12-28T03:22:21","modified_gmt":"2024-12-28T09:22:21","slug":"gary-gensler-gives-bitcoin-a-sweet-sixteen-shout-out-for-white-paper-anniversary","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/28\/gary-gensler-gives-bitcoin-a-sweet-sixteen-shout-out-for-white-paper-anniversary\/","title":{"rendered":"Gary Gensler Gives Bitcoin a \u2018Sweet Sixteen\u2019 Shout-Out for White Paper Anniversary"},"content":{"rendered":"<p>Bitcoins <\/p>\n<div>\n<div id=\"blockquote-block_ee810062f92d8b1032215beb99f4344b\">\n<ul>\n<li aria-level=\"1\"><span>Gary Gensler\u2019s most recent public appearance on Bloomberg kick-started (admittedly sarcastic) speculation that the SEC Chair might actually be a huge Bitcoin fan.<\/span><\/li>\n<li aria-level=\"1\"><span>The controversial regulatory leader wished Bitcoin\u2019s whitepaper a \u201chappy sweet sixteen\u201d as the market enters a new era of maturity.<\/span><\/li>\n<li aria-level=\"1\"><span>Despite the nice sentiment, Gensler backed up the SEC\u2019s tactic of regulation by enforcement on the crypto scene.<\/span><\/li>\n<\/ul>\n<\/div>\n<p>Who would you consider to be Bitcoin\u2019s number-one fan?\u00a0<\/p>\n<p><a href=\"https:\/\/cryptonews.com.au\/category\/michael-saylor\/\">Michael Saylor<\/a>? <a href=\"https:\/\/cryptonews.com.au\/category\/elon-musk\/\">Elon Musk<\/a>? <a href=\"https:\/\/cryptonews.com.au\/category\/satoshi-nakamoto\/\">Satoshi Nakamoto<\/a>? <a href=\"https:\/\/cryptonews.com.au\/category\/donald-trump\/\">Donald Trump<\/a>?<\/p>\n<p>Well, if you answered any of the above \u2013 you\u2019d be wrong.<\/p>\n<p>The true answer is <a href=\"https:\/\/cryptonews.com.au\/news\/shots-fired-sec-chief-gary-gensler-faces-tough-questions-over-crypto-enforcement-action-123561\/\">Gary Gensler<\/a>, the appointed arch-nemesis of the cryptocurrency industry and Chair of the <a href=\"https:\/\/cryptonews.com.au\/category\/sec\/\">Securities and Exchange Commission (SEC)<\/a>.<\/p>\n<p>As it turns out, the past three years of incessant lawsuits, stifled innovation and refusal to craft progressive financial reform was just a case of Gensler and friends playing hard-to-get.<\/p>\n<p><strong>Related: <\/strong><a href=\"https:\/\/cryptonews.com.au\/news\/minneapolis-fed-criticises-bitcoin-as-useless-piece-of-paper-citing-risks-to-economic-stability-124105\/\"><strong>Minneapolis Fed Criticises Bitcoin as \u2018Useless Piece of Paper\u2019, Citing Risks to Economic Stability<\/strong><\/a><\/p>\n<h2 id=\"h-gensler-sticks-to-guns-claims-regulation-by-enforcement-is-necessary\">Gensler Sticks to Guns, Claims Regulation By Enforcement Is Necessary<\/h2>\n<p>Gary Gensler\u2019s reign (not of terror, but something like that) is likely coming to an end if <a href=\"https:\/\/cryptonews.com.au\/news\/firing-gensler-a-bitcoin-bill-and-4-million-btc-highlights-and-wildest-predictions-from-bitcoin-2024-122423\/\">Donald Trump wins the election<\/a> \u2013 although even a Harris win might see some shuffling on the board.<\/p>\n<p>There\u2019s no doubting Gensler has left a lasting legacy on the crypto industry. Political narratives are more fun when there are \u201cgoodies and baddies\u201d, and the SEC has seamlessly fit into the role of the Joker to crypto\u2019s Batman.<\/p>\n<p>The biggest criticism of Gary Gensler and the SEC is a lack of regulatory clarity, leaving innovative crypto businesses in the dark as to what they\u2019re allowed to do, and what will see them left with a subpoena on their doorsteps.<\/p>\n<p>This \u201cregulation by enforcement\u201d strategy has been quite unpopular, but in an interview with Bloomberg, Gensler doubled-down on the tactic.<\/p>\n<div id=\"blockquote-block_95127bca2a633ab9cf486a50f4715d36\">\n<p><em>We have benefited for nine decades from robust laws from Congress and rules from various agencies\u2026to protect investors. A lot of people have lost money in a field that\u2019s not providing the fundamental disclosure about their projects and investment contracts. If a market\u2019s ever going to have trust, it also needs to come into compliance.<\/em><\/p>\n<p><img decoding=\"async\" data-eio=\"l\" data-old-src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" src=\"https:\/\/cdn.cryptonews.com.au\/2024\/10\/11140521\/Gary-Gensler.png\">        Gary Gensler, SEC Chair    <\/p>\n<\/div>\n<h2 id=\"h-is-gensler-a-secret-bitcoin-maxi-okay-probably-not-but-maybe\">Is Gensler a Secret Bitcoin Maxi? Okay\u2026Probably Not\u2026But Maybe?<\/h2>\n<p>But despite all the infamy shrouding Gensler\u2019s negative stance on crypto\u2026there are some signs that it may have all been a charade.<\/p>\n<p>In just over a week the world will be celebrating the 16th birthday of <a href=\"https:\/\/cryptonews.com.au\/category\/satoshi-nakamoto\/\">Satoshi Nakamoto\u2019s<\/a> Bitcoin whitepaper, originally released on Halloween 2008.\u00a0<\/p>\n<p>And in a spookily out-of-character move, Gensler was quick to wish Bitcoin a \u201chappy sweet sixteen.\u201d\u00a0<\/p>\n<figure><\/figure>\n<p>This immediately led to crypto Twitter having fun, claiming Gensler had long concealed his true love for Bitcoin and the DeFi markets.\u00a0<\/p>\n<figure>\n<div>\n<blockquote data-width=\"500\" data-dnt=\"true\">\n<div lang=\"en\" dir=\"ltr\">\n<p>I\u2019ve always maintained that Gensler is a secret Maxi.<\/p>\n<p>He put up just enough resistance to make it look plausible, but really he could have made things far far harder.<\/p>\n<\/div>\n<p>\u2014 Ari Steele \u26a1\ufe0f (@atseawithari) <a href=\"https:\/\/twitter.com\/atseawithari\/status\/1848760665210573238?ref_src=twsrc%5Etfw\">October 22, 2024<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<figure><\/figure>\n<p>Okay, hear them out.<\/p>\n<p>Despite all the huffing and puffing, it <em>was <\/em>under Gary Gensler\u2019s tenure as SEC Chair that <a href=\"https:\/\/cryptonews.com.au\/news\/us-spot-bitcoin-etfs-hit-record-week-adding-2-1-billion-in-btc-124080\/\">spot ETFs hit the US markets<\/a>. This move single-handedly <a href=\"https:\/\/cryptonews.com.au\/news\/us-sec-gives-go-ahead-for-spot-bitcoin-options-listings-on-nyse-124075\/\">revolutionised the crypto industry<\/a>, bringing in institutions, banks and adding legitimacy to a fledgling market.<\/p>\n<p><strong>Related: <\/strong><a href=\"https:\/\/cryptonews.com.au\/news\/cryptoquant-says-retail-investors-are-starting-to-come-back-to-crypto-market-124119\/\"><strong>CryptoQuant Says Retail Investors Are Starting to Come Back to Crypto Market<\/strong><\/a><\/p>\n<p>Yes, it probably would\u2019ve happened anyway \u2013 but still, Gensler\u2019s run with the SEC might not be looked back on as negatively as many believe.<\/p>\n<\/p><\/div>\n<p> Ben Knight <a href=\"https:\/\/cryptonews.com.au\/news\/gary-gensler-gives-bitcoin-a-sweet-sixteen-shout-out-for-white-paper-anniversary-124129\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gary Gensler\u2019s most recent public appearance on Bloomberg kick-started (admittedly sarcastic) speculation that the SEC Chair might actually be a huge Bitcoin fan. The controversial regulatory leader wished Bitcoin\u2019s whitepaper a \u201chappy sweet sixteen\u201d as the market enters a new era of maturity. Despite the nice sentiment, Gensler backed up the SEC\u2019s tactic of regulation<\/p>\n","protected":false},"author":1,"featured_media":815428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[81431,511],"tags":[11476],"class_list":{"0":"post-815427","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gensler","8":"category-gives","9":"tag-bitcoins"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/815427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=815427"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/815427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/815428"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=815427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=815427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=815427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}