SEC Halts Nasdaq Bitcoin Options Approval Amid Jurisdiction Row

The US Securities and Exchange Commission (SEC) has put its approval of Nasdaq's cash-settled bitcoin index options, known as QBTC, on hold. The move comes after CME Group challenged the SEC's decision in court, arguing that since bitcoin is a commodity, options based on it should be regulated by the Commodity Futures Trading Commission (CFTC), not the SEC.

The dispute raises questions about which agency has jurisdiction over bitcoin options and could affect how such products are offered in the US market. The SEC is reviewing CME's challenge and inviting public comments until August 24, while the approval remains on hold.