Original sourceCrypto Briefing
Summary
The Crypto Council for Innovation (CCI) submitted a 238-page framework, "Under Control," to the U.S. SEC on October 28-29, arguing that whether smart-contract vaults constitute securities should be judged by the degree of actual control rather than labels. The framework examines three possible path…
Key points
- Teams designing or investing in on-chain vaults can use the four MEGD dimensions to self-assess potential compliance obligations.
- How the SEC handles on-chain vaults worth over $100 billion will determine the legal status and distribution of such products.
- Vault operators found to have high human control may need to bear fund- or adviser-level compliance obligations.
Editorial note
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