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

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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