The group formally asked the U.S. derivatives regulator to clarify wallet, timing and recordkeeping rules it says are poorly matched to round-the-clock blockchain markets.
Solana Policy Institute submitted a formal letter to the U.S. Commodity Futures Trading Commission on July 9 in response to the agency's request for information on rules that may unnecessarily burden fintech and blockchain firms. Signed by CEO Miller Whitehouse-Levine and General Counsel Patrick Wilson, the filing asks the CFTC to use existing administrative tools to address three areas: clarifying that non-custodial wallet and front-end software should not by itself trigger introducing broker registration, allowing UTC-based or calendar-time compliance standards where business-hours rules do not fit always-on on-chain markets, and recognizing on-chain records as sufficient for certain reporting, recordkeeping and audit-trail obligations when they meet regulatory standards. The letter cites the CFTC's March 2026 no-action letter to Phantom Technologies and December 2025 tokenized collateral guidance, and argues the agency can act through interpretive guidance, no-action relief or Section 4(c) exemptive authority without waiting for Congress. The move reflects a broader industry effort to adapt U.S. derivatives oversight to blockchain networks that operate continuously and record activity directly on public ledgers.