[Analysis: U.S. SEC Token Safe Harbor Proposal Still Lacks Certainty, Exchanges Concerned About Future Accountability] According to a report by CoinDesk, crypto wallet backup company Vault12 submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) on Tuesday, 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 about potential future challenges from the SEC regarding the legal status of tokens. The SEC's proposed *Regulation Crypto Assets* framework, introduced in August this year, aims to provide exemptions for token fundraising and allow eligible projects to terminate the association between tokens and their original investment contracts through the safe harbor mechanism. Vault12 suggested adding a 60-day objection period, during which, if the SEC does not raise objections within the timeframe, eligible filings should carry binding authority with the agency, except in cases of fraud or significant misrepresentation.