According to CoinMeta, Vault12 submitted a letter of opinion to the U.S. Securities and Exchange Commission (SEC), pointing out that the token safety harbor proposal lacks regulatory certainty, which continues to cause concerns among exchanges regarding potential liabilities in the future. Vault12 once raised $17.45 million through a future token protocol, and its issued Vault Guardian Token tokens have not yet been listed on any centralized exchanges. Vault12 suggests adding a 60-day objection period; if the SEC does not raise any objections within this time frame, the applications that meet the criteria should have final legal effect for that entity.