Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC), recently shared his views on the newly launched spot Bitcoin exchange-traded funds (ETFs) and addressed concerns raised by Senator Elizabeth Warren about integrating cryptocurrencies into the financial system. His remarks came during an interview with CNBC following the SEC’s approval of several spot Bitcoin ETFs.
Gary Gensler on Bitcoin ETFs and Satoshi Nakamoto’s Vision
Gensler highlighted the irony in the launch of spot Bitcoin ETFs, noting that it seemingly contradicts the original decentralized ethos proposed by Bitcoin’s creator, Satoshi Nakamoto. In 2008, Nakamoto envisioned a system for electronic transactions that would operate independently of centralized financial institutions. Gensler pointed out that this new development in Bitcoin finance appears to centralize what was intended to be a decentralized system.
Despite approving the ETFs, Gensler quickly clarified that this action does not imp
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