According to CoinMeta, in a directive issued on July 29th, the U.S. Securities and Exchange Commission (SEC) maintained the suspension of the approval for Bitcoin index options proposed by NASDAQ. The SEC is awaiting a comprehensive review by the committee of the CME group. On August 3rd, the SEC set August 24th as the deadline for submitting written statements in support or opposition to the preliminary approval in the Federal Register. This directive did not determine whether the jurisdictional challenge raised by CME was valid; instead, it agreed to review the matter and continued to suspend the approval from May 22nd until another directive was issued by the commission. The SEC considers Bitcoin to be a non-security commodity, and options based on Bitcoin value to be commodity option swaps. The SEC's review directive did not support these claims nor make a ruling on their merits.