Crypto
SEC Review Halts Nasdaq's Bitcoin Index Options Amid Jurisdiction Dispute
The Nasdaq PHLX's plan to launch cash-settled bitcoin index options has hit a roadblock due to a jurisdiction dispute between U.S. market overseers.
The SEC granted CME Group's petition for review on July 29, staying the approval of Nasdaq PHLX's proposal while the full Commission evaluates the challenge.
CME argues that bitcoin index options are commodity swaps falling solely under CFTC jurisdiction and warns that SEC approval could expand securities exchanges' reach to non-security commodity derivatives.