Vault12 Seeks 60-Day SEC Objection Window for Form TR Filings

Vault12, Inc. wants the Securities and Exchange Commission to have 60 days after a properly filed Form TR to notify an issuer of an objection, addressing exchange concerns about later challenges to a token’s status. The company’s Oct. 20 comment letter responds to the SEC’s proposed Regulation Crypto Assets. The proposal would create registration exemptions for offerings of certain investment contracts involving crypto assets and let qualifying projects use a safe harbor to sever a token’s connection to the investment contract under which it was sold. Vault12 wants an eligible Form TR to become binding on the SEC if the agency does not notify the issuer of an objection within that 60-day period.

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