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News

SEC Seeks To Take Satoshi Nakamoto To Court With Lawsuit Against Bitcoin

June 11, 2023 - Around 3 mins mins to read

Key Points:

  • According to a source from famous cryptocurrency trader Ash Crypto, the SEC has just filed a lawsuit against Bitcoin and wants Satoshi Nakamoto to appear in court.
  • The Sec once asserted that every cryptocurrency on the market is a security except Bitcoin (BTC).
  • Born in 2009, but until now, people have yet to learn who its inventor, Satoshi, really is.
SEC Seeks To Take Satoshi Nakamoto To Court With Lawsuit Against Bitcoin
According to a famous cryptocurrency trader Ash Crypto, the SEC has just filed a lawsuit against Bitcoin and wants Satoshi Nakamoto to appear in court.

The reason for the Securities and Exchange Commission (SEC) action is still unclear. But the SEC is suing Coinbase and Binance because they believe many cryptocurrencies traded on those exchanges are securities that must be registered with the US regulator. There is one big exception: bitcoin.

That belief encourages investors to stick with the world’s largest cryptocurrency despite industry turmoil caused by new lawsuits SEC against the world’s largest crypto exchanges and the United States. Although there is no law that states whether bitcoin is a security, SEC Chairman Gary Gensler as well as former Chairman Jay Clayton have indicated in numerous public comments that they do not believe bitcoin is a security. Instead, most investors interpret it as a commodity like gold or wheat.

The technology white paper of the Bitcoin cryptocurrency has been around since the end of 2008 when the founder of this coin sent this text to many email addresses in the crypto community.

It is worth noting that this founder did not reveal his true identity but took the pseudonym Satoshi Nakamoto. This nickname has followed the Bitcoin coin to this day, and no one has been able to confirm the exact identity of this mysterious founder.

SEC Seeks To Take Satoshi Nakamoto To Court With Lawsuit Against Bitcoin

On January 3, 2009, Satoshi founded the Bitcoin network and was the first to mine the first Bitcoin block on this distributed network. There are many theories, but many of them share the same opinion that the sudden appearance of a character like Satoshi will adversely affect the cryptocurrency market as well as their own safety.

Over the years, Satoshi’s true identity has been a hot topic, with many names coming up. This is not surprising. Everyone loves mysteries. For others, they are more interested in the huge amount of Bitcoin that Satoshi is holding. Will there be a day when this character suddenly appears, and Bitcoins flood the market, affecting the price of this cryptocurrency.

Another theory is that Nakatomo knew the authorities would go after the creator of Bitcoin if he revealed his identity. Bitcoin is the most successful cryptocurrency, but it is far from what the moderators want as an alternative to currency. Nakatomo knows for sure Bitcoin attracts many forces that are not in favor. Governments certainly don’t like threats to their monetary policy.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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