Benzinga – Bitcoin (CRYPTO: BTC) offshoot, Litecoin (CRYPTO: LTC), surged 6.78% to $86.03 on Wednesday on the time of writing. On the identical day, Litecoin mentioned that Coinbase International had filed with the Commodity Futures Buying and selling Fee to kick off futures buying and selling for the cryptocurrency.
What Occurred: It ought to be famous that the cryptocurrency buying and selling platform additionally moved to launch month-to-month cash-settled futures contracts for Dogecoin (CRYPTO: DOGE) and Bitcoin Money (BCH).
BREAKING: @Coinbase submitting with CFTC to kick off futures buying and selling for Litecoin! https://t.co/wUccfVCRHC
— Litecoin (@litecoin) March 21, 2024
Bloomberg Intelligence ETF analysis analyst, James Seyffart, mentioned on X that Coinbase’s transfer raises attention-grabbing regulatory questions with respect to the classification the three Bitcoin forked cryptocurrencies. He mentioned, “Is perhaps why Coinbase selected them.” He additionally shared the certifications, filed “quietly” with the CFTC, in the identical submit.
“These all forked from Bitcoin so ‘these are securities’ claims could be exhausting to make after spot #Bitcoin ETF approvals,” mentioned Seyffart.
That is attention-grabbing… marvel if the SEC objects to those being categorised ‘commodities futures’ vs ‘securities futures’. These all forked from Bitcoin so “these are securities” claims could be exhausting to make after spot #Bitcoin ETF approvals. Is perhaps why Coinbase selected them
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