SEC Pauses Nasdaq Approval of QBTC Bitcoin Options After CME Group Legal Challenge

The U.S. Securities and Exchange Commission has frozen Nasdaq’s approval of QBTC bitcoin options to review the decision after a legal challenge from CME Group. According to Odaily, CME Group said bitcoin is a commodity and that options tied to its value should fall under the jurisdiction of the U.S. Commodity Futures Trading Commission rather than the SEC. The approval remains suspended during the SEC review, and interested parties may submit comments by August 24.