ETF Fever Continues, Gensler Warns Against Crypto’s ‘Wild West’ of Permissionless Exchange, Latam Update — Week in Review

U.S. SEC Chair Gary Gensler Reiterates Warning on Crypto "Non-Compliance" Amidst Surge in BTC Exchange-Traded Funds

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has issued renewed warnings about the prevalence of non-compliance within the cryptocurrency space. Gensler emphasized the need for greater regulation, stating that the lack of compliance "undermines confidence" in the industry, especially considering the numerous individuals who have suffered losses and are left with no recourse. These warnings come at a time when the market eagerly anticipates the approval of spot bitcoin exchange-traded funds (ETFs).

Grayscale Investments Adopts Cash Creation Model for Proposed Bitcoin ETF

Grayscale Investments, a prominent crypto asset manager, has recently announced its decision to adopt the cash creation model for its proposed spot bitcoin exchange-traded fund (ETF). This move marks a departure from the traditional in-kind model commonly used in ETFs. However, Grayscale Investments has also cautioned about potential drawbacks associated with this novel approach. The firm's filing with the SEC highlights the possibility of operational inefficiencies that may arise from relying solely on cash creations and redemptions without the option for in-kind transactions.

Latam Insights: Bitcoin Adoption and Deregulation in Latin America

Welcome to Latam Insights, your weekly roundup of the most significant crypto and economic news from Latin America. In this edition, we highlight three noteworthy developments:

  1. El Salvador Passes Bitcoin Donation Citizenship Law: El Salvador has officially passed a legislation allowing individuals to acquire citizenship through Bitcoin donations. This move demonstrates the country's commitment to embracing cryptocurrencies.
  2. Argentina Allows Settlement of Crypto-Denominated Contracts: Argentina has announced its decision to permit the settlement of contracts using cryptocurrencies. This progressive measure aims to facilitate greater adoption of digital assets within the country.
  3. President Milei Proposes Deregulation in Argentina: President Milei of Argentina has put forth plans to deregulate various sectors in the country. This initiative seeks to promote economic growth and remove unnecessary barriers to innovation.

Blackrock Plans to Seed its Bitcoin ETF with $10 Million

Blackrock, the world's largest asset manager, has unveiled its intention to seed its spot bitcoin exchange-traded fund (ETF) with an initial investment of $10 million on January 3rd. The firm has engaged in multiple meetings with the SEC to address concerns regarding its filing. In response to these concerns, Blackrock has chosen to adopt the cash creation model instead of its original preference for the in-kind model.

We would love to hear your thoughts on BTC exchange-traded funds. Feel free to share your opinions in the comments section below.


How To

How to hold physical gold in an IRA

The most obvious way to invest in gold is by buying shares from companies producing gold. However, this method comes with many risks because there's no guarantee that these companies will continue to survive. Even if the company survives, they still face the risk of losing their investment due to fluctuations in gold's price.

The alternative is to buy physical gold. This requires you to either open up your account at a bank or an online bullion dealer or simply purchase gold from a reputable seller. This option offers the advantages of being able to purchase gold at low prices and easy access (you don’t need to deal directly with stock exchanges). It's easier to track how much gold is in your possession. So you can see exactly what you have paid and if you missed any taxes, you will get a receipt. You also have a lower chance of theft than stocks.

There are also some drawbacks. You won't be able to benefit from investment funds or interest rates offered by banks. You can't diversify your holdings, and you are stuck with the items you have bought. Finally, the taxman may ask you about where you have put your gold. is the best website to learn about gold purchases in an IRA.


Title: ETF Fever Continues, Gensler Warns Against Crypto’s ‘Wild West’ of Permissionless Exchange, Latam Update — Week in Review
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Published Date: Sun, 31 Dec 2023 12:30:33 +0000

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