U.S. prohibition of Cboe VIX cash-level perpetual futures

Assume U.S. regulators issue a binding decision, final guidance, disapproval, prohibition, or comparable formal regulatory action that prevents Cboe from listing perpetual futures tied directly to the VIX cash level in the United States by the cutoff. The action applies to the proposed VIX cash-level perpetual futures path, even if Cboe may continue operating existing VIX derivatives or may pursue a redesigned product later. The precise prohibited leverage, settlement, investor-eligibility, margin, or clearing terms are not specified unless stated in the regulatory action.