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SEC Chair Gensler Wishes Bitcoin’s White Paper Happy Anniversary With Warning for Crypto Firms Skip to main content

SEC Chair Gensler Wishes Bitcoin’s White Paper Happy Anniversary With Warning for Crypto Firms

SEC Chair Gensler Wishes Bitcoin's White Paper Happy Anniversary With Warning For Crypto Firms

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has wished Bitcoin’s white paper a happy anniversary. In addition to his playful remark about Bitcoin creator Satoshi Nakamoto dressing up in a Halloween costume, Gensler issued a stern warning to crypto firms, emphasizing the importance of complying with securities laws.

SEC Chair Gary Gensler’s Message on the Bitcoin White Paper’s 15th Anniversary

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has wished Bitcoin’s white paper a happy anniversary. In a post on social media platform X on Tuesday, the regulator wrote: “Happy 15th anniversary to Satoshi’s famous white paper that started crypto.”

He also attempted to make a humorous remark regarding Bitcoin creator Satoshi Nakamoto’s Halloween costume, asking whether we would be able to tell if Satoshi dressed up as himself for Halloween. Gensler ended his post with a trick-or-treating message for crypto firms. “Any crypto companies that are tricking investors should start treating them to compliance with the securities laws,” he warned.

SEC Chair Gensler Wishes Bitcoin's White Paper Happy Anniversary With Warning for Crypto Firms

Gensler’s message garnered numerous comments on social media, with many focusing on when he plans to approve a spot bitcoin exchange-traded fund (ETF). To date, the securities watchdog has not approved a spot bitcoin ETF, despite granting approval for several ETFs based on bitcoin futures contracts. Gensler has repeatedly said that he views all crypto tokens as securities, except for bitcoin.

The SEC chairman said this week that the regulator is considering eight to 10 spot bitcoin ETF applications. Based on public records, 12 spot bitcoin ETF applications have been filed with the SEC, including Grayscale Investments’ application to convert its bitcoin trust (GBTC) into a spot bitcoin ETF. Other applicants include Cathie Wood’s ARK Investment Management, Blackrock, Bitwise, Wisdomtree, Fidelity, Vaneck, and Invesco. Eight applications have the latest possible review dates in the first quarter of next year, and three have the latest review dates in the second quarter.

Some analysts, including those at JPMorgan, are expecting the SEC to approve multiple spot bitcoin ETFs at once. Recently, the price of bitcoin surged on speculation that Blackrock, the world’s largest asset manager, is close to launching its spot bitcoin ETF. Bernstein Research said last week that a spot bitcoin ETF looks like “a done deal” in January.

What do you think about SEC Chairman Gary Gensler’s message on Bitcoin’s white paper anniversary? Let us know in the comments section below.

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