Self-Proclaimed Satoshi Nakamoto, Craig Wright, Replies to CFTC Request for Input (RFI)


Controversially self-declared “Satoshi Nakamoto” and nChain chief Craig Wright are reported to have submitted two near-identical comment letters to the Commodity Futures Trading Commission (CFTC) of the United States.

Craig Wright filed his two documents on the 15th of February in response to the agency’s request for feedback and industry input on Ethereum (ETH)’s mechanics and market.

The CFTC having outlined its reasons behind gathering the information as follows pegged the closing deadline for responses to request for input (RFI) as the 17th of February, 2019,

According to a statement by the agency

“The input will advance the CFTC's mission of ensuring the integrity of the derivatives markets as well as monitoring and reducing systemic risk by enhancing legal certainty […] The RFI seeks to understand similarities and distinctions between certain virtual currencies as well as Ether-specific opportunities, challenges, and risks.”

Both of the comment letters to the agency credited to Wright affirmed his earlier claim to have worked “using the fictitious name of Satoshi Nakamoto,” with which he allegedly completed a project filed with the Australian government in part under an AusIndustry project registered with the Department of Innovation as a BlackNet project in 1997

According to a tweet by Craig Wright on the 10th of February, BlackNet — an alleged precursor to Bitcoin (BTC) — was submitted in 2001 to the Australian government.,

As a result of his claims to have completed the project seven years before the publication of the Bitcoin white paper, the tweeted BlackNet project has sparked considerable controversy over the past week

Another issue of contention is its remarkable similarity to the textual detail of the white paper

A group of redditors has argued that the BlackNet paper has plagiarized the official Bitcoin white paper that was published in October 2008 due to its notable significance to corrections of an earlier draft which was shared by Satoshi in August 2008.

By reproducing the corrected version, the redditors argued that the 2001 R&D paper is a hoax planned to feign Wright as the bona fide originator of Bitcoin.

In his remaining explanation to the CFTC, Wright claimed that:

“The amount of misunderstanding and fallacious information that has been propagated concerning bitcoin […] has resulted in my choice to start to become more public. The system I created was designed in part to end fraud as best as that can be done with any technology. The lack of understanding […] has resulted in […] a dissemination of old scams.”

It is noteworthy that Wright is currently enmeshed in an ongoing legal tussle over his alleged theft of Bitcoin(BTC) from deceased crypto developer David Kleiman.

Wright once again came into the crypto limelight in mid-November 2018 relative to his connection with the rancorous fallout of the Bitcoin Cash (BCH) hard fork, which led to his preferred protocol spinning off into the newly-forked Bitcoin SV (BSV) token.

Apart from Wright, a lot of figures in the cryptocurrency industry have responded to the CFTC’s request for input (IFR), this includes members of the Ethereum Foundation, Consensys, Coinbase as well as members of the blockchain consortium.

Meanwhile, Chicago-based crypto exchange firm ErisX has used its comment letter to the CTFC to argue a case for the prospective positive impact of regulated ETH futures contracts.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide