Crypto Council hands the SEC a 238-page framework for regulating crypto vaults

The Crypto Council for Innovation wants regulators to judge vaults by who actually holds the controls, not by what they are called The Crypto Council for Innovation (CCI) has given the US Securities and Exchange Commission some reading material. The group submitted a roughly 238-page framework on how crypto vaults may fit within federal securities laws. The document is titled “Under Control: A Framework for Applying the Federal Securities Laws to Crypto Vaults.” It runs across four volumes. Vaults now hold approximately $131 billion in assets, according to S&P Global data. What the framework actually proposes CCI delivered the report to the SEC on October 28–29, 2026. Its subject is smart contract-based vaults built to pool digital assets. The paper examines three pillars of US securities law: the Securities Act of 1933, the Investment Company Act of 1940, and the Investment Advisers Act of 1940. Those are the statutes that determine when something is a security, when a pool counts as an investment fund, and when someone steering money owes regulators paperwork. Rather than slotting every vault into one of those boxes, the report argues for a more nuanced approach. The centerpi...