The Crypto Council for Innovation published a 238-page report on October 29 proposing a framework for bringing crypto vaults under U.S. federal securities laws. Its approach focuses on the degree of control exercised by operators and depositors, distinguishing automated and transparent vaults from those involving substantial human discretion. According to S&P Global, assets deposited in these vaults reached $131 billion in April 2026. The CCI also wants the SEC to grant individual exemptions to qualifying structures before introducing broader standardized rules, following the approach used for crypto ETFs. Bitwise, Galaxy Digital, and Morpho support the proposal, which aims to clarify the regulation of blockchain-based capital markets.
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