Litecoin Surges 25%: What’s Behind the Sudden Price Increase?

• Fidelity, VanEck and more refiled spot Bitcoin ETF applications after reports of SEC rejections.
• South Korea passed new legislation focusing on investor protection in cryptocurrency.
• Litecoin spiked 25%, but the cause is still unclear.

Fidelity Files for Spot Bitcoin ETF

Fidelity, VanEck and other companies have recently refiled their applications for a spot Bitcoin exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC). This comes after reports that the SEC had rejected previous applications due to technicalities.

South Korea Passes Crypto Legislation

South Korea has passed new cryptcurrency legislation that focuses on investor protections in the sector. The law will require exchanges to register with the government and adhere to certain standards related to consumer protection, anti-money laundering regulations, and operational security measures.

BNY Mellon’s Crypto Custody Venture

BNY Mellon’s crypto custody venture has run afoul of SEC rules as they were not registered as an investment advisor or broker-dealer under securities laws. The company is now working with regulators to ensure compliance with all relevant regulations before launching its service.

Vodafone Confirms Cardano NFT Plans

Vodafone has confirmed rumors that it plans to launch an NFT marketplace based on Cardano technology. The company stated that it aims to create a secure platform for users to store, trade, and manage digital assets using blockchain technology while ensuring compliance with existing regulatory frameworks at both national and international levels.

Litecoin Spikes 25%

Litecoin saw a remarkable increase in its value recently with its price rising from $77 to $105 – a 24.6% jump within the last 24 hours alone – though there appears no immediate cause identified by analysts or media sources yet for this surge in price.

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