#bitcoin

SEC Chairman Gary Gensler, in a CNBC interview, emphasized that the recent approval of spot Bitcoin ETFs shouldn't be seen as an endorsement for similar products, including Ethereum ETFs.

In the face of escalating inflation (211%), Argentinians continue to actively purchase dollar-pegged stablecoins, steering clear of Bitcoin due to its high volatility. For cash purchases of these stable tokens, locals are turning to domestic P2P exchanges due to the country's stringent currency regulations.

The Financial Supervisory Service of South Korea (FSS) intends to meet with business representatives and the US Securities and Exchange Commission (SEC) to gather detailed information about Bitcoin ETFs. These plans were announced by the FSS Governor, Lee Bok-hyun, during a presentation in Seoul outlining his action plan for the near future.

HANetf, Europe’s independent ETF provider, predicts the closure of several American Bitcoin ETFs due to profitability challenges. This situation could arise from excessively low fees set by major players, which small or developing investment firms cannot match.

At a parliamentary committee session, New Zealand central bank governor Adrian Orr voiced his skepticism towards stablecoins, labeling them as inherently unstable. He argued that their reliability is solely contingent on the financial reserves of the issuing entity. The governor also dismissed the notion of Bitcoin or any similar cryptocurrency as a viable substitute for fiat money or a store of value.

In January 2024, the on-chain monthly transaction volume of Bitcoin reached a new record of $1.21 trillion for the past twelve months. It's noteworthy that throughout 2023, this figure did not exceed $1 trillion, typically fluctuating between $500-600 billion.