- SEC Chairman Gary Gensler wished Bitcoin a happy birthday as the crypto celebrates its 14th year.
- Many in the crypto community responded negatively to his post.
- The SEC has been receiving animosity from the crypto space since it filed lawsuits against crypto entities left and right in 2020.
Gary Gensler, Chairman of the US Securities and Exchange Commission, recently greeted Bitcoin (BTC) a happy birthday as the chief cryptocurrency celebrates the 14th year of the publishing of its whitepaper.
As seen in the tweet above, Gensler admits that Bitcoin has “led to innovation and crypto asset investing” since its conception. Moving forward, he expressed his desire to provide “proper protection” to investors in the following year.
The reaction he received from the crypto community? Nothing but ire and ridicule. Atty. John Deaton, Founder of CryptoLaw and a respected legal voice in the crypto space, roasted him by implying that he might be a wolf in sheep’s clothing.
For perspective, the SEC has been receiving the majority of animosity from the crypto space since it filed a lawsuit against over 200 crypto firms and persons. Some of these are LBRY, a blockchain-powered digital content marketplace, Coinbase, and of course, Ripple.
When the SEC filed a suit against Ripple, the agency did not expect that the latter would fight back hard. According to an article by Forbes, the SEC is likely to lose the case. This would deal a hard blow to the credibility of the SEC to regulate crypto and of course, to Gensler, who is currently the head of the agency.
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