30s Summary

Gary Gensler, head of the US Securities and Exchange Commission (SEC), did not provide specifics but insinuated the SEC will likely maintain its current approach to regulating digital assets. He did not comment on his own potential job loss in the case of a Donald Trump second term. He has been both criticized and questioned on his handling of the crypto industry. The interview comes after an SEC division announcement including crypto as a priority until the year 2025. An HBO documentary suggests computer scientist Peter Todd being Satoshi Nakamoto, Bitcoin’s mysterious creator.

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Gary Gensler, the big cheese at the US Securities and Exchange Commission (SEC), has been keeping people guessing about his stance on crypto since he took over the reins in 2021. Speaking to Bloomberg Business on Oct. 22, he didn’t quite answer a question about how the SEC plans to regulate digital currencies. But he did wish Bitcoin a happy 16th birthday – its groundbreaking white paper was first published on Oct. 31, 2008. Genlser hinted the SEC will likely stay on its current path of regulating digital assets, considering potential risks to investors.

“We’ve leveraged laws and rules set by Congress and other agencies over the last 90 years. It’s all about making sure the markets are a safe and fair place for investors, and promoting capital formation. We’re going to keep doing that,” Gensler proclaimed.

When reporters put him on the spot about what he’d do if Trump managed to snag a second term in the 2024 presidential election (Trump had pledged to fire Gensler “on day one” if he won), Gensler kept it zipped. He wouldn’t talk about his potential job loss or Trump’s World Liberty Financial project.

This interview followed close on the heels of an announcement from an SEC division, naming crypto as a priority to watch out for till the year 2025. Gensler’s take on dealing with the crypto industry has been questioned and even criticized by many industry folk and lawmakers. But the man’s shown no signs of backing down or changing his approach.

In other fun trivia, Bitcoin is all set to turn sixteen on Oct. 31. This marks sixteen years since the mysterious BTC creator, known only as Satoshi Nakomoto, shared the cryptocurrency’s white paper to the world. The very first Bitcoin transaction happened a few months later, on Jan. 3. 2009 – a day now famously known as Genesis Block Day among Bitcoin enthusiasts.

There have been tons of theories about who Satoshi could really be, but there’s no concrete proof just yet. The latest buzz from a recent HBO documentary suggests that computer scientist Peter Todd might be the elusive Satoshi, but not everyone’s buying it. As for Bitcoin itself, its price was riding high at $67,370 at the time of this article.

Source: Cointelegraph