According to CoinMeta, the Blockchain Association of America announced the establishment of a working group for Vaults. Dozens of member institutions have already joined, including a16z, crypto, AAVE, Ethena, FalconX, Grayscale, Morpho, Uniswap, and Wintermute, among others. The association stated that Vaults represents an emerging on-chain financial infrastructure that can provide users with multi-asset exposure and customizable, personalized investment strategies. The working group will communicate directly with the U.S. Securities and Exchange Commission (SEC) to help legislators understand the operational mechanisms of Vaults and how the existing regulatory framework applies to it, while also promoting the compliant development of related technologies in the United States.