The SEC approved the listing of binary options for 23 U.S. publicly listed companies, involving Coinbase, Robinhood, and MARA

According to CoinDesk, Paul Atkins, the chairman of the U.S. Securities and Exchange Commission (SEC), issued a statement on October 13, approving the rule change submitted by Cboe Global Markets. This change allows for binary options linked to the key performance indicators (KPI) of 23 publicly traded companies in the United States. The metrics related to the cryptocurrency industry include: trading volume of Coinbase (COIN), the number of customers and revenue of Robinhood (HOOD), and the Bitcoin production of MARA Holdings (MARA).

These contracts are cash-settled, European-style options that can only be exercised at expiration. The settlement data is derived from documents submitted by the companies to the SEC, rather than from earnings presentation materials. Cboe plans to launch these contracts this month, and Robinhood is expected to be the first brokerage to offer this product to retail investors. However, trading will not begin until the clearing agency Cboe Clear U.S. receives temporary registration, and another related application is still under review.