Ondo Finance applies to SEC for no enforcement action letter

Ondo Finance has announced that it has submitted a non enforcement action letter application to the US Securities and Exchange Commission (SEC) seeking regulatory confirmation for its Ondo Global Markets (OGM) product to ensure that recording some security interests in tokenized form on the Ethereum mainnet under specific modes will not pose enforcement risks. Ondo stated that on chain recording aims to improve the efficiency of collateral monitoring, optimize the redemption process, and simplify the reconciliation system. It is an optimization of the existing product operation layer, rather than restructuring the market structure.