Litecoin Skyrockets 20% After US Regulator Labels It a Commodity

CFTC Complaint

On Tuesday, the US Commodity Futures Trading Commission (CFTC) and Department of Justice (DOJ) charged crypto exchange KuCoin and its founders with various violations, including illegally dealing in commodity futures.

In the complaint, the CFTC referred to certain digital assets, including Bitcoin (BTC), Ether (ETH), and Litecoin (LTC), as commodities.


This assertion contradicts the view of SEC Chair Gary Gensler, who has stated that all cryptocurrencies except Bitcoin are securities.

LTC Price Surge

Following the CFTC’s announcement, LTC has surged by approximately 20%, trading at $105.75 at the time of writing.