Canadian MP urges community to study Bitcoin, cites Gensler’s pre-SEC stance

On the 15th anniversary of the release of the Bitcoin white paper, Canadian Member of Parliament (MP) Joël Lightbound took the opportunity to thank the pseudo-anonymous creator of Bitcoin (BTC), Satoshi Nakamoto, in the Canadian parliament while advocating for people to study the leading cryptocurrency.

During his speech on the parliament floor, Lightbound disclosed that he owns Bitcoin himself but won’t advocate for people to buy it. Instead, he wants people to study and understand it. He added that Bitcoin was created at a time of financial crisis, and over the years, it has become a tool to empower the underbanked and those living in oppressive regimes.

“Bitcoin has helped thousands of families avoid the tragedy of currency debasement. It stands for the truly progressive ideal. So today, let me thank Satoshi Nakamoto, whoever that may be and wish a happy 15th anniversary to the Bitcoin white paper.”

During his speech, the MP cited two key quotes, one from the former Twitter CEO and bigtime Bitcoin advocate Jack Dorsey and another from the United States Securities and Exchange Commission (SEC) chair Gary Gensler, which came as a surprise to many given Gensler’s hostile crypto approach since becoming SEC chief. However, the quote cited by the MP is from 2019, when Gensler was not the SEC chair.

Canadian MP @JoelLightbound thanks Satoshi and advocates for people to “study #Bitcoin” on the floor of the Canadian parliament yesterday.
Drawing on compelling quotes by @Jack and @GaryGensler, he outlines the power of #Bitcoin to empower people everywhere.
pic.twitter.com/UGvTTGaTso

— MUSQET (@Musqet_Bitcoin) November 1, 2023

In an opinion piece in 2019, Gensler wrote that although there are thousands of projects in the crypto ecosystem, the one created by Satoshi Nakamoto has the potential to spur change “either directly or indirectly as a catalyst.“ He added, “The potential to lower verification and networking costs is worth pursuing, particularly to lower economic rents and data privacy costs and promote economic inclusion.“

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Gensler also tweeted on the 15th anniversary of the Bitcoin white paper, commemorating the event. However, he included a compliance message suggesting any “crypto companies that are tricking investors should start treating them to compliance with the securities laws.”

Before his stint as SEC chief, the crypto community was quite optimistic about Gensler’s appointment, given his crypto teaching background. However, his stint as SEC chair has been rife with controversies and disappointment for the crypto community.

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