Solana Policy Institute "Stocks should be registered on blockchain"... Proposal to US SEC

The civic group Solana Policy Institute proposed to US financial authorities that "stocks should be applied to blockchain."

According to The Block on the 30th (local time), the Solana Policy Institute submitted a proposal to the US Securities and Exchange Commission (SEC) cryptocurrency task force (TF) on this day. The core of the proposal is the 'Project Open' project, which registers stocks on blockchains such as Solana (SOL). The institute stated, "Project Open is an advancement in US financial innovation," and "(Project Open) will benefit the US financial market by enhancing transparency, enabling immediate settlement, and reducing costs."

Specifically, if Project Open is implemented, stock issuers must simultaneously issue security token offerings (STO) through a report. The proposal also includes an obligation to report security token issuance to the authorities. The Solana Policy Institute also proposed a regulatory relief plan to exclude blockchain from SEC registration requirements through the proposal. The institute said, "The goal is to collaborate with the SEC and industry partners to build an internet capital market and enhance the efficiency, accessibility, and transparency of all capital markets."