• Canadian government approves unrestricted trading of Litecoin (LTC) and three other cryptocurrencies on exchanges.
• Litecoin’s price has surged recently, hitting a 14-month high and breaking the $100 mark.
• House of Commons Standing Committee urges the government to develop a national blockchain policy to clarify regulatory stance and show support for the sector.
Canada Removes Cap Limit on Litecoin Trading
The Canadian government has approved the unrestricted trading of Litecoin (LTC) and three other cryptocurrencies on exchanges, marking a major breakthrough for the Canadian crypto sector. This comes as Litecoin’s price has surged recently, hitting a 14-month high and breaking the $100 threshold ahead of its halving event expected to take place around August 2, 2023.
House of Commons Urges National Blockchain Policy
The House of Commons Standing Committee on Industry and Technology has urged the government to develop a national blockchain policy to clarify the country’s regulatory stance and show support for the sector. This move follows a successful breakthrough in which nearly one million transactions were handled by Litecoin’s network in preceding week alone, further demonstrating strong investor sentiment towards cryptocurrency in general, particularly as more countries are looking into digital assets amid rising global inflation rates.
Bulls in Total Control Ahead of Halving Event
As bulls appear to be in total control ahead of this halving event , investors are keeping an eye on whether or not Litecoin is able to keep its upward momentum depends on whether or not it can retain support at the $102.65 level. With this area of support still in place, many analysts believe that Litecoin may continue its ascent towards its major objective of $140 before long.
Vitalik Buterin Transfers Small Portion Of ETH
In related news, Ethereum co-founder Vitalik Buterin recently transferred approximately 740 ETH worth over $16 million USD from his address sparking speculation about his motivations behind this large transaction. Many suggest that this action was taken due to Buterin’s confidence in Ethereum’s long-term growth prospects as well as potential plans for future investments .