https://cointelegraph.com/news/nakamoto-s-innovation-is-real-says-sec-chair-gary-gensler

 
$

  * BTC $38,354
  * ETH $2,514
  * XRP $0.72
  * BCH $540
  * XMR $225.6
  * DASH $159
  * EOS $4.03
  * ZEC $115
  * ADA $1.376
  * NEO $41.66
  * BNB $323
  * XLM $0.276
  * USDT $1.0005
  * MIOTA $0.86
  * DOGE $0.20

 
X

  * BTC $38,354 -2.74%
  * ETH $2,514 -4.29%
  * XRP $0.72 -3.90%
  * BCH $540 -1.31%
  * EOS $4.03 -0.79%
  * DOGE $0.20 -3.79%

  * English
  * Advertise
  * Careers

  * News
      + Bitcoin News
      + Ripple News
      + Ethereum News
      + Litecoin News
      + Altcoin News
      + Blockchain News
      + Business News
      + Technology News
      + Policy & Regulations
  * Markets
      + Market News
      + Price Indexes
      + Market Analysis
      + Heatmap
      + Top 10 Cryptocurrencies
  * Magazine
  * People
      + Top 100 2021
      + Top 100 2020
      + Opinion
      + Expert Take
      + Interview
  * Cryptopedia
      + Explained
      + How to Crypto
      + Bitcoin101
      + Ethereum101
      + Dogecoin101
      + Bitcoin Cash101
      + Ripple101
      + Lightning Network101
      + Altcoin101
      + DeFi101
      + Trading101
      + NFT101
  * Industry
      + DApplist
      + Events
      + Jobs
      + Press Releases
      + Store
      + BlockShow
  * Consulting
      + Consulting Services
      + Technology Providers
      + Industry Reports
  * Video
  * Markets Pro

 
Sam Bourgi
3 hours ago

'Nakamoto's innovation is real,' says SEC Chair Gary Gensler

Gary Gensler describes Satoshi Nakamoto as an important innovator in
cryptography and that their "innovation spurred the development of
crypto assets and the underlying blockchain technology."

4035 Total views
8 Total shares
Listen to article
 
0:00
'Nakamoto's innovation is real,' says SEC Chair Gary Gensler
News

Gary Gensler, chair of the United States Securities and Exchange
Commission, or SEC, believes that the blockchain revolution started
by Satoshi Nakamoto in 2008 is more than just a fad, but a real value
proposition for the future of the internet. 

In an interview with the Aspen Security Forum on Tuesday, Gesler
talked about his role at the Massachusetts Institute of Technology
teaching about the intersection of finance and technology:

    "[...] in that work I came to believe that though there was a lot
    of hype masquerading as reality in the crypto field, Nakamoto's
    innovation is real."

    SEC Chairman @GaryGensler on #Bitcoin 

    pic.twitter.com/jhqkbZrnob

    -- Documenting Bitcoin (@DocumentingBTC) August 3, 2021

Gensler noted that, while some within the public sector wish that
cryptocurrency would just go away, the technology likely has a big
role to play in the future of finance.

"I really do think there's something real about the distributed
ledger technology, moving value on the internet," he said.

Related: Today marks the 10-year anniversary of Satoshi Nakamoto's
final message

Some within the crypto community took Gensler's comments to mean that
he's studied the entire field of blockchain and concluded that
Bitcoin is the only real innovation. A transcript of Gensler's
address to the Aspen Security Forum appeared to be hyper-focused on
the Bitcoin (BTC) white paper published by Satoshi Nakamoto more than
a decade ago.

    Here's the clip of Gary Gensler basically saying "I've studied
    the entire field & #Bitcoin is the only real innovation."
    pic.twitter.com/AbsGcD7awP

    -- Rohun vora (@rohunvora) August 3, 2021

"At its core, Nakamoto was trying to create a private form of money
with no central intermediary, such as a central bank or commercial
banks," Gensler said in his remarks. Although he acknowledged that no
single cryptocurrency broadly fulfills all the functions of public
currencies like the dollar, he said assets like Bitcoin provide a
different value proposition:

    "Primarily, crypto assets provide digital, scarce vehicles for
    speculative investment. Thus, in that sense, one can say they are
    highly speculative stores of value."

After being confirmed by the Senate Banking Committee in April of
this year, Gensler assumed the role as SEC chair in June, replacing
the outgoing Jay Clayton, whose term expired the same month.
Gensler's five-year term is scheduled to last through 2026. He
believes in creating a "robust" regulatory framework for
cryptocurrencies in the United States, especially in emerging DeFi
markets such as lending.

Related: SEC Chair wants robust crypto regulatory regime for the US

  * #Satoshi Nakamoto
  * #SEC
  * #Bitcoin Regulation
  * #United States
  * #Regulation

Related News

  *  
    ETH Miners Will Have Little Choice Once Ethereum 2.0 Launches
    With PoS
  *  
    Crypto protocol takes on big networks by offering fast, feeless
    transactions
  *  
    BlockFi faces regulatory heat, a sign of possible crypto lending
    regulations?
  *  
    NFTs are next for enterprise Ethereum, says ConsenSys founder Joe
    Lubin
  *  
    Osprey Funds CEO says US will approve Bitcoin ETF in 2022 'at
    earliest'
  *  
    SEC Commissioner concerned about the US lagging behind global
    Bitcoin ETFs

[pixel]
Load more articles
Editor's Choice

  * Breaking: BSV reportedly suffers 'massive' 51% attack
  * 'Nakamoto's innovation is real,' says SEC Chair Gary Gensler
  * Thanks to Bauhaus, I totally get NFTs now
  * Bitcoin price dips below $38K, with bullish traders eyeing a new
    higher low next
  * Aussie crypto exchange CoinJar partners with Mastercard for
    crypto cards

Cointelegraph YouTube Subscribe
Advertise with us

  *  
  *  
  *  
  *  
  *  
  *  
  * 
  * 

[                    ]