Argentine Landlord Accepts Bitcoin, BlackRock Launches ETF Ad Blitz, SEC's Stance on Bitcoin Shifts, FTX Creditors Seek Improved Repayments
Summary:
An Argentine landlord and tenant have agreed on a rental contract with payments in Bitcoin, facilitated by legal changes under President Javier Milei. Global investment firm BlackRock has launched a marketing campaign for its new spot Bitcoin ETF. Gary Gensler, Chair of the SEC, acknowledged that Grayscale's legal victory significantly influenced the approval of Bitcoin ETFs. Meanwhile, FTX creditors are pushing for 'in-kind' crypto repayments following their significant value increase since FTX declared bankruptcy.
In a historic occurrence, an Argentine property owner and their renter have agreed to make rental payments in Bitcoin, marking their contract as the first to adopt such a model in the nation. This novel arrangement was facilitated by legal alterations initiated by Argentina's newly inaugurated President, Javier Milei.
Rent payments will be made to the value of $100 through a local cryptocurrency platform called Fiwind, in Bitcoin each month. Both the property owner and renter are knowledgeable users of cryptocurrency. Argentina's rental laws, alongside other aspects of its legal framework, have experienced modifications under Milei's nascent administration.
Global investment powerhouse BlackRock has unveiled a promotional campaign for its inaugural spot Bitcoin ETF. It has released a two-minute video featuring a BlackRock executive detailing the merits of Bitcoin and the access that their new ETF can provide to investors. Amid a competitive environment, other investment businesses like Bitwise, Hashdex, VanEck, ARK Invest, Grayscale and Valkyrie have also commenced public advertising.
Gary Gensler, the Chair of the United States Securities and Exchange Commission (SEC), has acknowledged that a legal win by Grayscale in August 2023 played a prominent role in the ultimate approval of a number of spot Bitcoin ETFs. Nevertheless, Gensler was firm in stating that the regulator does not back Bitcoin. Following Grayscale's successful court proceedings, the SEC's attitude towards Bitcoin filings pivoted, catalysing the sanction of ten spot Bitcoin ETFs, despite previous dismissals of such applications.
In another development, FTX creditors are arguing for crypto repayments "in-kind" rather than at their 2022 low prices. They believe this method will enable them to better capitalise on the recent bullish run. This plea is set against FTX's intention to pay customers back in U.S. dollars as per cryptocurrency values during its bankruptcy declaration in November 2022. FTX creditors' holdings in Bitcoin, Ether, and Solana have appreciated notably since the bankruptcy announcement.
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Published At
1/15/2024 2:37:54 PM
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