Crypto Critic Gary Gensler Acknowledges Bitcoin Whitepaper Anniversary, Vows to Continue Strict Enforcement Actions

The American securities regulatory body’s chairman wished the best for the Bitcoin whitepaper anniversary but confirmed that the regulatory body will continue its enforcement actions against the Crypto sector.

Gary Gensler has been the chairman of the United States Securities and Exchange Commission (SEC) since 2021. Under his leadership, the SEC has initiated several enforcement actions against crypto companies operating in the U.S. jurisdiction. Crypto advocates often criticise Gensler for his regulation-by-enforcement approach.

On 22 Oct 2024, SEC Chairman Gary Gensler appeared in an interview with Bloomberg Business. In the initial phase of the interview, Gensler avoided answering a question about regulating digital assets and instead wished Bitcoin a “sweet sixteen” — referencing the release of the Bitcoin white paper on Oct. 31, 2008. Gensler reiterated that the SEC would maintain its strict approach considering the risks cryptocurrencies pose to investors and would continue with “regulation by enforcement.”

When asked what he would do if former U.S. President Donald Trump wins the upcoming presidential election and fires him on the first day, Gensler declined to comment. He also avoided addressing questions about a DeFi Crypto project launched by Trump’s family, which is seen as part of Trump’s crypto-friendly stance.

Bitcoin Price Action

The current trading price of Bitcoin is $66,197, down 2% over the last 24 hours.

Bitcoin spot ETF recorded a net outflow of $79.0905 million on October 22, marking the first net outflow after seven days of inflows. Meanwhile, Ethereum spot ETF saw a net inflow of $11.94 million.

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