The Crypto Council for Innovation (CCI) is urging the SEC to weigh vault operators’ control of deposited assets and investment choices when applying securities laws, centering human discretion in its proposal.
The SEC’s crypto task force lists CCI’s filing at 238 pages and dates it Oct. 29. The filing identifies representatives from Bitwise, Galaxy and Morpho as anchors of the Vault Coalition.
CCI says vault designs may widen access and reduce costs linked to intermediaries. It also argues that software-based limits on operator choices may ease concerns about their discretion over users’ assets.
CCI points to the SEC’s ETF exemption process, which it says developed from one-off orders into rules with wider reach. The SEC says submissions to its crypto task force need not represent the agency’s position.
