PANews reported on June 18 that according to The Block, 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 suggests allowing traditional assets such as stocks and bonds to be traded on-chain, while seeking regulatory exemptions for non-custodial decentralized protocols. The proposal is based on SPI's previously proposed "Project Open" plan, which aims to achieve 24/7 operation and instant settlement of capital markets through blockchain technology. SPI emphasizes that decentralized protocols are different from traditional intermediaries and should be exempted from regulation. This submission comes at a time when the SEC's crypto regulatory attitude is gradually opening up.