The U.S. SEC’s Crypto Asset Working Group met with Ondo Finance to discuss regulatory frameworks for tokenizing publicly traded U.S. securities. The meeting, also attended by lawyers from Davis Polk & Wardwell, focused on how existing financial rules might apply to wrapped, tokenized securities on blockchain networks. According to a statement from the SEC, Ondo Finance outlined its proposed framework for tokenized securities, raising concerns regarding registration, broker-dealer compliance, market regulation, and state corporate law. The firm also discussed potential pilot programs or relief measures that could support innovation while safeguarding investor interests.