Litecoin In Canada unlimited buying and selling permission has been granted

The Canadian government has taken a significant step in the cryptocurrency sector by approving unlimited trading of Litecoin (LTC) and three other cryptocurrencies on the stock exchanges in Canada.

Litecoin In Canada unlimited buying and selling permission has been granted

Litecoin made an announcement on Twitter in honor of Canada Day, which took place on July 1st. The upcoming halving event, scheduled for August 2nd, 2023, predicts a positive outlook for the future of LTC. This event will be the third halving event for Litecoin in Canada, reducing the block reward from 12.5 LTC to 6.25 LTC. Past halving events have typically resulted in price increases associated with increased scarcity, but it remains uncertain how the market will react this time. In recent days, the price of LTC has significantly risen due to the anticipation of the halving event.

Litecoin in Canada has reached a major milestone, surpassing the $100 mark and reaching its highest price in 14 months. The hash rate of LTC, which serves as a measure of the blockchain’s processing power, is an important factor supporting its increasing momentum.

Additionally, Litecoin in Canada has remained unaffected by the regulatory scrutiny of the United States Securities and Exchange Commission (SEC). While the SEC has not explicitly categorized LTC, it has expressed concerns about cryptocurrencies like Bitcoin and Litecoin that use the proof-of-work (PoW) mechanism as unregistered securities. However, blockchain-based cryptocurrencies like LTC are distinct from these concerns.

The House of Commons Standing Committee on Industry and Technology has called on the government to develop a national blockchain policy that defines the country’s regulatory stance and supports the industry. The parliamentary committee also wants the Litecoin in Canada government to establish a unique regulatory system for stablecoins, distinguishing them from other crypto assets, similar to the European Union’s Markets in Crypto Assets (MiCA) framework, which classifies stablecoins as a separate asset class.