- The American SEC is now looking for public comments on the question of whether the proposal to state the ETF meets the legal requirements.
- The agency can retain to give the legislators the opportunity to issue clear crypto instructions.
The United States Securities and Exchange Commission (SEC) has postponed its decision -making on the proposed change of rule to state and act Canary Litecoin ETF. According to the announcement of Sherry Haywood, assistant secretary at US SEC, the Commission is now looking for public comments about whether the proposal to state the ETF meets the legal requirements, in particular when preventing fraudulent and manipulative practices.
The agency has given the public for 21 days to submit their comments, while the refutation of the comments can be submitted in the next 35 days from 5 May.
“The Commission is looking for comments about whether the proposal to hold the trust shares, which LTC, is designed to prevent fraudulent and manipulative actions and practices or to create new or new concerns that have not been considered by the committee,” the agency, “the agency noted.
Larger whole and impact on the litecoin price
TTE US SEC, led by Paul Atkins, has been waiting for clear regulatory guidance of the legislators. While the US Senate is preparing to vote for genius law this week, the House of Representatives will continue to insist on clear crypto regulations in the short term.
The house of representative, for example, is planning to clarify about crypto effects and raw materials that will help the SEC make better informed decisions.
After the announcement, the LTC price in the last 24 hours fell more than 3 percent to act at around $ 83.25 on Monday 5 May during the American trade session. The mid-cap Altcoin, with a completely diluted rating of around $ 6.9 billion, is confronted with a further bearish sentiment in the short term.
Credit : coinpedia.org
