Bitcoin News and Finance: What You Need to Know

South Korea’s financial watchdog chief is planning to visit the U.S. to discuss crypto regulation with the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, with a focus on the SEC’s recent decision to approve spot bitcoin exchange-traded funds (ETFs). He stressed that currently, the impact of SEC policies on the world is important. South Korea Seeks to Discuss Crypto Regulation With SEC Chair Gary Gensler South Korea’s Financial Supervisory Service (FSS) Governor Lee Bok-hyun announced on Monday his intention to visit leading financial markets in 2024, including the U.S., local media reported. During these visits, the FSS chief plans to engage in discussions on key regulatory issues, including those pertaining to the cryptocurrency industry, with a particular focus on spot bitcoin exchange-traded funds (ETFs). He stated during a Q&A with reporters: I will meet with SEC Chairman Gary Gensler (this year) and there are areas where we will focus on … s...

A federal judge has ruled in favor of the U.S. Securities and Exchange Commission (SEC) and ordered Ripple to comply with the regulator’s post-complaint discovery requests concerning XRP . Ripple must also answer an interrogatory regarding the amount of XRP institutional sales proceeds it received after the SEC complaint was filed. Judge Grants SEC’s Motion Against Ripple On Monday, U.S. Magistrate Judge Sarah Netburn ruled in favor of the U.S. Securities and Exchange Commission (SEC) against Ripple Labs concerning XRP . The securities regulator seeks an order compelling Ripple to produce “2022-2023 financial statements” and “post-complaint contracts governing ‘institutional sales.'” The SEC also wants the crypto firm to “answer an interrogatory regarding the amount of XRP institutional sales proceeds it received after the complaint was filed,” Monday’s court document details, adding: The SEC’s motion is granted in full. The court also addressed Ripple’s objections to th...

After the trading activity on Monday, which saw $642 million in transaction volume, Grayscale’s Bitcoin Trust sold off approximately 3,426.99 bitcoin, valued at around $147 million. Following Tuesday’s trading activity, GBTC offloaded an additional 2,565.39 bitcoin, valued at $110 million. Concurrently, Blackrock’s IBIT has acquired an additional 3,235.87 bitcoin, while Fidelity’s FBTC has secured 2,732.75 more bitcoin. ETF Shift: Grayscale Cuts Bitcoin Position as Rivals Accumulate Grayscale’s Bitcoin Trust ( GBTC ) has been actively decreasing its holdings, with 3,426.99 BTC being deducted from its exchange-traded fund’s (ETF) assets after Monday and 2,565.39 BTC on Tuesday. The trust’s current balance stands at 472,345.05 BTC , with its worth estimated at $20.34 billion. Since Jan. 12, 2024 , GBTC has seen a reduction in its holdings by 144,734.94 BTC , translating to an approximate value of $6.23 billion. Bitmex research shows since Jan. 11, 2024, the day prior, GBTC has she...

Beijing is prepared to apply a new policy to strengthen the actions to foster energy conservation in several aspects of the city’s operations, promoting carbon and pollution reduction. The plan proposes to increase the oversight level on Bitcoin mining activities, thwarting its remnants. Beijing to Thwart Cryptocurrency Mining Activities in Energy Conservation Plan The city of Beijing has revealed a new set of policies aimed at enhancing energy conservation, tackling several activities with measures focused on this end. The document states that the city considers energy conservation a “key area” to strengthen the conservation of energy resources and a requirement for building an ecological civilization. Cryptocurrency mining is included among the activities that will be policed specifically to promote carbon reduction, pollution reduction, and the expansion of green energy alongside construction, transportation, industry, and information technology. On the actions that will be ta...