U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has decided to mark 15 years since the official whitepaper of Bitcoin.
On October 31, 2008, Bitcoin's anonymous creator, Satoshi Nakamoto, published the network's white paper, "Bitcoin: a peer-to-peer electronic monetary system," which led to innovation and investment in digital assets.
In his X post, Gensler asked if it would be possible to recognize the elusive cryptocurrency creator Satoshi Nakamoto under his Halloween costume.
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Gensler also reminded cryptocurrency exchanges and crypto companies of the importance of complying with securities laws, stating, "Any crypto companies that are tricking investors should start treating them in compliance with the securities laws."
Gensler's primary concern is the alleged sale of unregistered securities by crypto companies. Under Gensler's leadership, the SEC has taken a strong stance against the crypto industry. The regulator has filed lawsuits against major industry players such as Binance, Coinbase, and Kraken.
Cryptocurrency leaders and lawmakers accused Gensler of creating regulatory ambiguity and stifling innovation.
The SEC chief's announcement drew a strong response from Ripple's Chief Legal Officer, Stuart Alderoty. He criticized Gensler, pointing out his misplaced sarcasm amid accusations that the SEC is circumventing Congress on certain regulatory actions. He cited a recent publication by the U.S. Government Accountability Office that examines the agency's compliance with the Congressional Review Act in a separate accounting bulletin.
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Alderoty's comments underscore the growing tension between the SEC and Ripple, a leading player in the crypto space.
Gensler's tweet also left room for speculation and conjecture. Elliot Johnson, IT Director of Evolve ETF, believes that Gensler's post hints at the imminent approval of a Bitcoin ETF and signals a potential shift in the regulatory environment.
Eric Balchunas, senior analyst at the ETF, also emphasized that cryptocurrency is at the forefront of regulatory discussions, even if Gensler's comment was merely "regulatory humor." As such, the industry is abuzz as it tries to decipher the deeper meaning behind Gensler's seemingly lighthearted tweet.
Also read: Binance has updated its Dual Investment product offerings.