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Bitcoin

Gary

April

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/us-lawmakers-push-for-bitcoin-options-trading/" data-wpel-link="internal">US Lawmakers Push for Bitcoin Options Trading</a> 
It is reported that United States lawmakers are pressing the Securities and Exchange Commission to approve option trading on products traded on the <a href="https://en.coin-turk.com/coinbase-clo-paul-grewal-sec-must-approve-a-spot-bitcoin-etf/" data-wpel-link="internal">Bitcoin</a> exchange. According to a report by Axios, Representatives Mike Flood and Wiley Nickel recently wrote a letter to <a href="https://en.coin-turk.com/corporate-investors-shift-focus-to-bitcoin-as-ethereum-sells/" data-wpel-link="internal">SEC</a> chairman Gary Gensler calling on the SEC to stop discriminating against crypto funds. 
<h2 class="p1" style="text-align: justify" id="crypto-in-the-spotlight-in-the-us">Crypto in the Spotlight in the US</h2> 
In a recent letter to Commission chairman Gary Gensler, Representatives Mike Flood and Wiley Nickel stated: 
“We urge you to promptly approve options for spot Bitcoin ETP products or provide an explanation for the different treatment between options for currently traded Bitcoin futures ETF funds and spot Bitcoin ETP products.” 
Options are financial instruments that give the buyer the right, but not the obligation, to buy or sell an asset—in this case, Bitcoin—at a fixed price until a certain date. The instrument is commonly used to hedge against price movements, limit potential losses, and allow investors to generate additional income through strategies. 
<h2 class="p1" style="text-align: justify" id="key-details-on-the-issue">Key Details on the Issue</h2> 
According to Flood and Nickel, approval is crucial for the investors that the SEC is trying to protect. The agency delayed decisions on applications from the New York Stock Exchange, Nasdaq, and Cboe Global Markets in January. 
Nasdaq applied to list and trade options for BlackRock’s iShares Bitcoin Trust, while Cboe plans to offer option trading on various Bitcoin funds. Similarly, NYSE plans to conduct option trading on Bitwise Bitcoin ETF (BITB), Grayscale Bitcoin Trusts (GBTC), and other trusts holding Bitcoin. Recently, the Commission initiated a new consultation round on the proposed rule change to allow options trading in Bitcoin funds. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-347249 size-full" src="https://coin-turk.com/wp-content/uploads/2024/05/sec.webp" alt="" width="1424" height="874"> 
According to a file dated April 24, the SEC aims to investigate how Bitcoin options can affect market stability, especially under volatile conditions. The agency is also examining whether current market surveillance and enforcement practices are sufficient to manage the complexity of Bitcoin options. Participants are expected to submit their initial comments by May 15, 2024, and rebuttal comments by May 29, 2024. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/us-lawmakers-push-for-bitcoin-options-trading/" data-wpel-link="internal">US Lawmakers Push for Bitcoin Options Trading</a></h5>

US Lawmakers Push for Bitcoin Options Trading

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