In an intriguing message shared via X, in commemoration of the 15th anniversary of the publication of the Bitcoin whitepaper, Gary Gensler warned cryptocurrency companies about compliance. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
SEC Chairman Wishes Bitcoin Whitepaper a “Happy Anniversary”
📍Gary Gensler, current chairman of the SEC, sent a congratulatory message to the crypto community on the anniversary of the Bitcoin whitepaper, while also warning crypto companies about complying with securities laws. On social media network X, Gensler wrote “happy 15th anniversary to the famous Satoshi white paper that started cryptocurrencies,” sparking a debate in the crypto community. Meanwhile, Gensler also recommended any crypto company that is “misleading” investors should start dealing with the securities regulator to comply with the current laws.
In the same post, Gensler made a comment about Satoshi Nakamoto and his anonymity. He wrote that “if Satoshi Nakamoto was like Satoshi Nakamoto for Halloween, would we be able to know about it?”
In response, user @crypto_rand I ask the regulator that “if you were like Mr. Burns, would we be able to know?”, sharing a meme that compares Gensler to the character of The Simpson.
Other responses questioned the SEC Chairman's professionalism, while others focused on one of the hottest topics of the moment: the SEC's potential decision regarding the approval of a spot Bitcoin ETF.
Over 39 million Bitcoin addresses are in profit
📍Most Bitcoin addresses are in the black, Glassnode reported. Despite the Bitcoin price being almost 50% below its all-time high (ATH), most addresses holding BTC are currently profitable, with Bitcoin trading above $34.400 per unit.
Charts shared by Glassnode on X (formerly Twitter), show that around 80% of Bitcoin addresses, or some 39,1 million addresses, are in profit as Bitcoin’s current value hit new yearly highs fueled by investor optimism and confidence in the potential approval of a spot Bitcoin ETF by the SEC.
Stablecoins in global payments
📍The Bank for International Settlements (BIS) recently published a report on the role of stablecoins in payments. Qualified “Considerations for the use of stablecoin arrangements in cross-border payments”, report discusses the use of stablecoins in cross-border payments, highlighting that, at present, these digital currencies do not meet the key characteristics to be a viable global payment option.
According to the bank, stablecoins require a clear regulatory framework to manage their risks and ensure user protection. However, the bank's perception of this type of digital currency indicates that the potential risks of stablecoins in cross-border payments could outweigh the benefits.
Still, stablecoin advocates say the innovation of blockchain technology, combined with the price stability offered by stablecoins, can transform global payments systems, making them more efficient.
Continue reading: Cardano makes DApp development easier with Demeter
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