[US SEC Token Safe Harbor Proposal Warned for Lack of Regulatory Certainty, Exchanges Concerned About Future Accountability] Odaily Planet Daily News – On Tuesday, crypto wallet backup company Vault12 submitted a comment letter to the U.S. Securities and Exchange Commission (SEC), pointing out that the SEC's proposed token safe harbor framework fails to adequately address centralized exchanges' concerns about listing tokens. Trading platforms remain worried that the SEC may retroactively challenge the legal status of tokens in the future. Vault12 raised $17.45 million from 38 investors in 2018 through a future token agreement. Its issued Vault Guardian Token (VGT) has yet to be listed on any centralized exchange. The project has either fulfilled or formally abandoned all commitments outlined in its white paper, but exchanges previously approached by the company still require confirmation that the SEC will not later determine that VGT remains subject to the original investment contract. In August of this year, the SEC proposed the "Regulation Crypto Assets" framework, which aims to provide exemptions for token financing and allow eligible projects to terminate the association between tokens and their original investment contracts through a safe harbor mechanism. Vault12 has suggested adding a 60-day objection period, during which, if the SEC does not raise objections within the timeframe, eligible filings should have final binding effect on the agency, except in cases of fraud or significant misrepresentation. (CoinDesk)