- The U.S. SEC wants your opinion—yes, yours—on whether this here ETF might be up to no good. If you’ve ever wanted to write a comment more official than a Facebook rant, now’s your time to shine.
- The SEC might just be dragging its boots so Congress can finally figure out this whole ‘crypto’ hullabaloo. Bless their hearts, they’re still looking for a map in the regulatory wilderness.
Now, gather round, folks. The mighty Securities and Exchange Commission—which is less famous for making hasty decisions than a tortoise is for sprinting—has hit the brakes on egghead plans to list the Canary Litecoin ETF. According to one fine bureaucrat by the name of Sherry Haywood, the commission wants the honest public to holler out their thoughts on whether letting this ETF strut onto the market would invite more shenanigans than a Mississippi riverboat gambler. Extra points if your comments are spelled right.
You’ve got 21 days to fire off your wisdom, and if you really got a burr under your saddle, you can send rebuttals for 35 days from good ol’ May 5. Horses and pigeons not accepted—email only, please.
“The commission wants to know if this here trust, which would hoard up Litecoin like a squirrel with acorns, is as pure as grandma’s pie, or if it could turn Wall Street into Dodge City. Fresh nonsense not yet spotted by the commission is especially welcome.” 🕵️♂️
Bigger Picture and Impact on Litecoin Price
The SEC—still under Paul Atkins, whose hobby is apparently waiting for Congress to find a flashlight in the dark—has been pining for lawmakers to tell them which way is up. Meanwhile, the U.S. Senate is about to roll the dice on something called the GENIUS Act, and the House is busy wrangling over how to explain what the heck crypto even is.
The House, bless their persistence, would like to finally spell out the difference between a security and a commodity in crypto. This could help the SEC stop squinting at coins like an old coot reading the fine print on a snake oil label.
NEW: Page 49 of the House’s new market structure discussion draft aims to clarify that transactions involving the sale of digital commodities do not constitute securities as long as those transactions do not involve the purchaser acquiring an ownership interest in the issuer’s…
— Eleanor Terrett (@EleanorTerrett) May 5, 2025
And what about the unlucky Litecoin, you ask? Well, right after this news, the price dropped faster than a greased pig at the county fair—over 3 percent, down to around $83.25. All this in one hectic Monday trading session. With a pie-in-the-sky valuation of $6.9 billion, LTC might just have a few more bumps, bruises, and bearish growls before this ride is over. 🐻💸
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2025-05-05 23:52