Litecoin Price Soars 11% After CFTC Calls It a Commodity Alongside Bitcoin and Ether
2024/03/29 21:16
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Litecoin Gains Nearly 11% in 24 Hours, Second Only to WIF The most significant non-technical event that led to Litecoin's spike was a recent statement from the U.S. Commodity Futures Trading Commission (CFTC). In a lawsuit against cryptocurrency exchange KuCoin, the CFTC declared Litecoin a commodity. This declaration is crucial because it places Litecoin outside the jurisdiction of the SEC, which regulates securities and imposes stricter liability on token issuers.
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