Lawmakers Press SEC for Bitcoin Options Trading Approval

U.S. lawmakers advocate for SEC approval of Bitcoin options trading, citing discrimination concerns.
Lawmakers Press SEC for Bitcoin Options Trading Approval
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Key Takeaways

  • US lawmakers press SEC to approve Bitcoin options trading, citing discrimination.
  • Options trading crucial for investors' protection and financial strategies.
  • SEC initiates consultation on Bitcoin options' impact and market surveillance.

In a bipartisan effort, Representatives Mike Flood and Wiley Nickel urge SEC Chair Gary Gensler to approve options trading on Bitcoin exchange-traded products (ETPs), stressing the need to end discrimination against crypto funds.

Urgent appeal to the SEC

A bipartisan letter to the SEC stated:

We urge you, without delay, to approve options on spot Bitcoin ETPs or to provide an explanation for the Commission’s difference in treatment between options for Bitcoin futures ETFs — which are currently trading — and options for the spot Bitcoin ETPs.

Crucial implications for investors

Options provide investors with the right to buy or sell Bitcoin at a fixed price by a certain date, serving as essential financial tools for hedging and generating income.

Flood and Nickel emphasize the importance of SEC approval for investor protection.

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