The Securities and Exchange Commission has posted a Notice of Withdrawal of Proposed Rule Change to Amend ISE Options.
The Securities and Exchange Commission has posted a Notice of Withdrawal of Proposed Rule Change to Amend ISE Options. Specifically, the NASDAQ has pulled its request to allow the exchange to list and trade options on units that represent interests in a trust that holds Bitcoin.
This past May, NASDAQ Vice President of US Options, Greg Ferrari, sent a letter to the Commission outlining the reasons while the option request should be approved. Ferrari said that based on current levels of trading, these Bitcoin products would meet the initial listing criteria for options to be listed as they are widely held and actively traded. Effectively, they should be treated similar to stock options.
Better Markets, a left wing advocacy group, countered the request as they feared the options could “expose retail investors to a tremendous amount of risk.” In the letter, Better Markets claims that “untethered access to options (by both retail and professional investors) combined with the turbocharge of information flow through social media, and forums like Reddit, have created modern conditions for bubbles to quickly form.”
Last month, the Commission indicated it wanted more time to consider the proposal, thus delaying the decision. NASDAQ withdrew the request on August 13th.
While NASDAQ has decided to hold off on pursuing options on Bitcoin trusts, this may just be a slight delay instead of defeat. As the Presidential elections will take place this November, a new coterie of policymakers will most likely take over the reigns of the SEC as former President Trump is decidely pro-crypto and Vice President Harris is currently attempting to repair the damage done by the Biden Administration in regard to the digital asset industry.
The above is the detailed content of Bitcoin Options Request Withdrawn From SEC, May Be Refiled After Elections. For more information, please follow other related articles on the PHP Chinese website!

Dogs Coin($DOGS), a notable player in the cryptocurrency space, has recently expanded its reach by listing on fifteen central exchanges (CEX).

KuCoin will list NOTAI coin on its platform, with trading starting at 10:00 UTC on September 18, 2024.

Two prominent financial institutions in the US—Nasdaq and CME Group—have launched new Bitcoin-related products as institutional adoption of the top crypto continues.

These options will track the price of Bitcoin (BTC) represented by the CME CF Bitcoin Real-Time Index

The long-awaited path to Bitcoin ETFs Options on traditional exchanges has hit yet another roadblock. Nasdaq and the New York Stock Exchange (NYSE) have unexpectedly pulled their applications to list and trade options based on two prominent Bitcoin i

Quant (QNT) and Mpeppe (MPEPE) have quickly become two of the most talked-about cryptocurrencies in the market.

With an initial investment of just $1,000, the trader managed to grow his stake to a whopping $750,000. This huge profit highlights both the potential and volatility of the crypto market.

Bitget, a cryptocurrency exchange and Web3 company partnered with Nansen Research, a blockchain analytics platform, to release a report on token-discovery strategies.

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

WebStorm Mac version
Useful JavaScript development tools

PhpStorm Mac version
The latest (2018.2.1) professional PHP integrated development tool

SublimeText3 Linux new version
SublimeText3 Linux latest version

Notepad++7.3.1
Easy-to-use and free code editor

MinGW - Minimalist GNU for Windows
This project is in the process of being migrated to osdn.net/projects/mingw, you can continue to follow us there. MinGW: A native Windows port of the GNU Compiler Collection (GCC), freely distributable import libraries and header files for building native Windows applications; includes extensions to the MSVC runtime to support C99 functionality. All MinGW software can run on 64-bit Windows platforms.
