U.S. SEC pauses Nasdaq Bitcoin options approval after CME petition

The U.S. SEC has paused Nasdaq PHLX’s proposed listing of cash-settled Bitcoin index options after accepting a petition from CME Group challenging the agency’s jurisdiction, The Block reported. According to the report, CME argued the approval should be withdrawn because Bitcoin is a commodity and therefore falls under the exclusive jurisdiction of the CFTC. The SEC accepted the petition and put the listing on hold after its staff had approved the Nasdaq PHLX proposal.