The U.S. SEC’s Crypto Task Force has recently met with one of the top Solana MEV infrastructure companies, Jito Labs, to talk about the future of crypto asset regulation. In addition to Jito Labs, the SEC also listened to Blockworks, a well-established crypto research and media company.
During the June 13 meeting, Jito Labs and Blockworks presented a framework focused on transparency for token issuers and market makers, as well as ideas to improve investor confidence and market integrity in crypto trading. They shared a Token Transparency Framework and Market Maker Disclosure System, aiming to align the decentralized world of crypto with traditional regulatory expectations.
Just a day earlier, on June 12, the SEC also heard from a wider Solana-backed coalition including Solana Labs, Phantom, Superstate, Orca Creative, and multiple law firms. They proposed “Project Open,” a bold pilot program. The program aims to allow equity securities to be issued and traded entirely on public blockchains like Solana.
This pilot program proposes a regulatory sandbox to enable registered digital securities (“Token Shares”) to be listed and traded on blockchains such as Solana. Central are KYC-verified digital wallets, smart contract trading, and instant settlement without the need for conventional clearing delays.
For better investor protection, the program also includes contemporary education requirements for participants. It is conceived as an 18-month pilot scheme and would be regulated by the SEC and open to public comments during its tenure.
The SEC is currently considering these proposals in its efforts to update crypto regulation. Nothing has been finalized, the meetings indicate that the agency is actively working with technical builders rather than lawyers. There is increasingly an openness to blockchain-native infrastructure for securities. Applications such as Jito’s MEV system may have a pivotal role in decentralized yet compliant finance.
