Canadian MP Joël Lightbound Celebrates Bitcoin's Anniversary, Urges Study, Not Just Investment
Summary:
During a parliamentary speech marking the 15th anniversary of Bitcoin's white paper publication, Canadian MP, Joël Lightbound, thanked Bitcoin's anonymous creator, Satoshi Nakamoto, and urged people to study Bitcoin. Lightbound cited quotes from former Twitter CEO, Jack Dorsey, and the US Securities and Exchange Commission (SEC) chief, Gary Gensler. While praising Bitcoin's potential to empower the underbanked and under-suppressed, Lightbound also acknowledged present controversies and regulatory scruples surrounding cryptocurrencies.
Commemorating the 15-year mark since Bitcoin's white paper was unveiled, Joël Lightbound, a Member of Parliament in Canada, expressed his gratitude to Bitcoin's unidentified inventor, Satoshi Nakamoto. The gratitude was extended in the Canadian parliament where Lightbound urged all to deepen their understanding of Bitcoin. While making his statement, Lightbound admitted he is a Bitcoin owner; however, he called for comprehension of it, rather than advocating for its purchase. He pointed out that Bitcoin was conceived during a financial meltdown and over time, has evolved into an empowering resource for those with limited access to banking as well as individuals under oppressive rule. Further, he highlighted that Bitcoin has been instrumental in assisting numerous households to evade the disaster of currency value erosion. Joël saluted Satoshi Nakamoto for creating a symbol of a genuine progressive concept.
In the course of his address, he mentioned crucial remarks made by Jack Dorsey, ex-CEO of Twitter and Bitcoin supporter, and Gary Gensler, the Securities and Exchange Commission (SEC) head in the US, which was a bit of shock, considering Gensler's confrontational stance towards cryptocurrency since assuming the role of chief. It's worth noting that the statement referenced by the MP was made in 2019, before Gensler took up the SEC leadership role.
In a 2019 commentary, Gensler conveyed that despite the extensive number of projects in the crypto ecosystem, only the one masterminded by Satoshi Nakamoto has the potential to incite change, whether directly or by serving as a catalyst. He emphasized that the opportunity to reduce validation and networking costs is a worthwhile pursuit to cut down on economic rents, data privacy costs, and to boost financial inclusion.
He also commemorated the 15th anniversary of Bitcoin white paper's launch via a tweet to Satoshi Nakamoto. However, he included a reminder for adherence to compliance rules, advising crypto ventures misleading investors to adhere to securities laws.
The crypto community initially welcomed Gensler's appointment to the SEC, given his past involvement with teaching crypto. However, his tenure as SEC chief has been fraught with disputes and letdowns for the crypto community.
Published At
11/1/2023 1:14:27 PM
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