Plume Takes Onchain Vault Rules Directly to the SEC Plume (@plumenetwork) met with the SEC on September 22 to discuss rules for onchain vaults. The meeting followed a written submission outlining how vaults should fit within securities laws. Curators exercising investment discretion would face different requirements than neutral protocol developers. The proposals also cover custody, tokenized fund shares, transfer agents, and secondary markets. According to Plume, regulation should vary based on the roles that the participants play inside the vault. Meanwhile, Plume says neutral protocol infrastructure should not automatically trigger securities regulation.