- The US SEC is now looking for public comments if the proposal to list ETF complies with regulatory requirements.
- The agency may be stalling to give lawmakers a chance to issue clear crypto regulations.
The United States Securities and Exchange Commission (SEC) has delayed the decision making on the proposed change of listing and trade with the Litecoin ETF canary. According to the announcement by Sherry Haywood, assistant secretary of US SEC, the commission is now looking for public comments on whether the proposal to list the ETF complies with regulatory requirements, especially in preventing fraudulent and manipulation skills.
The agency has given the public 21 days to submit their comments, while rebuttal comments can be submitted in the next 35 days from May 5.
“The commission is looking for comments on whether the proposal to list and trade trust shares, which will be held by the LTC, is designed to avoid fraudulent and manipulative actions and skills or lifting any new or novel concerns that the Commission has not previously thought,” the agency mentioned.
Bigger photo and impact on Litecoin price
The TTE US SEC, under the leadership of Paul Atkins, is awaiting a clear regulatory guide from lawmakers. While the US Senate is preparing to vote for the Genius Act this week, the House of Representative is continuing to push for a clear perspective on crypto regulation in the near term.
For example, the House of Representative intends to clarify crypto securities and commodities, which will help the SEC make better decisions.
Following the announcement, the LTC price dropped more than 3 percent in the past 24 hours to trade nearly $ 83.25 on Monday, May 5, during a mid-North American trading session. Mid-cap altcoin, with a fully melted appreciation of nearly $ 6.9 billion, faces further short-term emotions.
