Canadian Member of Parliament (MP) Joël Lightbound. Source: YouTube/Global News
Joël Lightbound addressed the Canadian Parliament with a call for a new perspective on cryptocurrencies, particularly Bitcoin.
During a speech that lasted over a minute, Lightbound urged members of parliament to consider a different approach, emphasizing the significance of studying Bitcoin.
As a Bitcoin owner himself, the Canadian Member of Parliament (MP) made this plea on the 15th anniversary of the pioneering decentralized currency. However, he clarified that he was not encouraging anyone to invest in the digital currency due to its volatility.
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.
— MUSQET (@Musqet_Bitcoin) November 1, 2023
Lightbound also took the opportunity to express his gratitude to the pseudonymous creator of the Bitcoin network, Satoshi Nakamoto.
He praised Nakamoto’s innovative peer-to-peer, decentralized value transfer protocol for providing a means for many families to protect their wealth from currency devaluation and offering a mechanism for the financial redemption of the masses.
In his view, Bitcoin’s emergence after a major financial crisis in 2008 exemplifies the progressive ideals that underpin its existence.
To support his perspective, Lightbound quoted former Twitter CEO and current owner of The Block, Jack Dorsey, and Gary Gensler, the current chairman of the US Securities and Exchange Commission (SEC).
Lightbound read out Dorsey’s remarks on the Bitcoin whitepaper, where he stated that the decentralized protocol has been the most recent seminal work in the computer science field in the last three decades.
He also shared a comment from Gensler when he was a blockchain professor at the Massachusetts Institute of Technology (MIT).
In the statement, the current SEC boss lauded Bitcoin’s potential to instigate positive change by reducing economic disparities and promoting financial inclusion for underbanked populations.
Lightbound isn’t the sole individual recognizing Bitcoin’s remarkable 15-year journey. Gensler also took the time to tweet about this top cryptocurrency, reflecting its significance.
If Satoshi Nakamoto went as Satoshi Nakamoto for Halloween, would we be able to tell?
Happy 15th anniversary to Satoshi’s famous white paper that started crypto.
Any crypto companies that are tricking investors should start treating them to compliance with the securities laws.
— Gary Gensler (@GaryGensler) October 31, 2023
He concluded by emphasizing the need for regulatory oversight of cryptocurrency exchanges.
Today is the 15th anniversary of the #Bitcoin White Paper.
Here’s my short video tribute to the Cypherpunks, Satoshi, and Bitcoin pic.twitter.com/gGJoGFjKQl
— Dan Held (@danheld) October 31, 2023
Renowned pro-Bitcoin advocate Dan Held also commemorated Bitcoin’s 15th anniversary on social media platform X with a brief tribute video dedicated to its creator and early users.
Kraken Joins Other Exchanges to Flee Canada
Lightbound’s submission follows a rising wave of regulatory scrutiny within the cryptocurrency ecosystem, leading top centralized crypto exchanges to flee the country.
In an email forwarded to its customers, popular Bitcoin trading firm Kraken announced the closure of its operations in the country.
Canada is rapidly moving towards being an anti-crypto country@krakenfx, you’ve always been my first recommendation to new users, but there was no explanation given in the email. What law, or what part of my government, imposed this on you? pic.twitter.com/tljypvVIs9
— Austin Foss (@_Austin_Foss) October 27, 2023
The email conveyed that Kraken would suspend deposit functions by November 30, 2023. Consequently, investors will no longer be able to fund their accounts using cryptocurrencies such as USDT, Dai, WBTC, WETH, and others.
Additionally, withdrawal functions for these highlighted assets will be discontinued by December 4, 2023.
Kraken is now joining the ranks of a growing number of Bitcoin exchanges opting to exit the North American nation.
Cya later #Binance #canada #usa pic.twitter.com/1YtjhWnHe8
— Rabid Mining (@MiningRabid) October 23, 2023
Furthermore, the world’s largest cryptocurrency exchange by trading volume, Binance, also disclosed its decision to halt trading activities towards the end of October.
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