SEC Halts Nasdaq Bitcoin Options Listing Amid CFTC Jurisdiction Challenge

The U.S. Securities and Exchange Commission (SEC) has put on hold the proposed listing of cash-settled Bitcoin index options on Nasdaq PHLX.

This decision follows a petition from CME Group, which argued that Bitcoin is a commodity and therefore falls under the exclusive jurisdiction of the Commodity Futures Trading Commission (CFTC), not the SEC.

The SEC accepted the petition and paused the listing despite its staff having previously approved the Nasdaq PHLX proposal.

This move highlights the ongoing regulatory friction between the SEC and CFTC over digital assets, with both agencies claiming authority over different aspects of crypto markets.