Solana Policy Institute and Industry Participants Submit Compliance Tokenized Securities Framework to SEC

On June 18, 2025, the Solana Policy Institute (SPI), together with industry leaders such as Phantom, Orca, and Superstate, submitted a "Compliant Tokenized Securities" framework proposal to the SEC Crypto Working Group. The framework proposes bringing traditional assets such as stocks and bonds on-chain and granting regulatory exemptions for non-custodial blockchain protocols. SPI stated that its Project Open initiative aims to modernize capital markets, enabling traditional assets to be traded around the clock with instant settlement, while reducing costs and increasing transparency. The framework highlights the fundamental differences between decentralized protocols and traditional intermediaries, calling on the SEC to provide clear guidance to maintain the United States' competitive edge in financial innovation.