According to the meeting memorandum released on April 24 by the U.S. Securities and Exchange Commission (SEC) Crypto Asset Special Working Group, representatives from Ondo Finance and Davis Polk & Wardwell LLP held a meeting with the SEC's crypto working group to discuss compliance paths for the issuance and sale of tokenized U.S. securities.

The meeting topics included structural models for tokenized securities, registration and broker-dealer requirements, market structure regulations, financial crime compliance, and state corporate laws. Ondo Finance proposed seeking a regulatory sandbox or other forms of regulatory exemptions to advance the issuance of its tokenized asset products. The meeting aimed to provide a clear regulatory framework for tokenized securities in the U.S. market.