Crypto
SEC Puts Brakes on Nasdaq Bitcoin Options Amid CME Challenge
The U.S. Securities and Exchange Commission (SEC) has put Nasdaq's Bitcoin options on hold after CME Group requested the SEC review a May decision to approve the product.
CME Group argued that the contracts would track the CME CF Bitcoin Real Time Index divided by 100, with final settlement based on the CME CF Bitcoin Reference Rate New York Variant.
The dispute over Nasdaq's proposed QBTC contracts could decide whether options tied directly to bitcoin's price fall under the Commodity Futures Trading Commission's (CFTC) jurisdiction instead of the SEC's.