The Solana Policy Research Institute, Phantom, Orca, and Superstate submitted a "Compliance tokenization securities" framework to the SEC.

PANews reported on June 18 that according to The Block, the Solana Policy Institute, together with Phantom wallet, Orca exchange and Superstate protocol, submitted a compliant tokenized securities framework to the US SEC Crypto Working Group. The proposal proposes to allow traditional assets such as stocks and bonds to be traded on-chain, while securing regulatory exemptions for non-custodial decentralized protocols. The proposal builds on SPI's previously proposed "Project Open" initiative, which aims to enable 24/7 capital market operations and instant settlement through blockchain technology. SPI emphasizes that decentralized protocols are different from traditional intermediaries and should be subject to regulatory exemptions. The filing comes at a time when the SEC's crypto regulatory stance is gradually opening up.