Crypto wallet backup company Vault12 submitted a comment letter to the U.S. Securities and Exchange Commission on Tuesday, arguing that the proposed token safe harbor framework fails to adequately address centralized exchanges' listing concerns. Trading platforms remain worried that the SEC may retroactively challenge the legal status of tokens after they are listed. The SEC's "Regulation Crypto Assets" proposal, introduced in August, aims to provide an exemption for token financing and allow eligible projects to terminate the link between tokens and their original investment contracts through a safe harbor mechanism. Vault12 recommended adding a 60-day objection period under which eligible filings would become final and binding on the agency if the SEC does not raise objections within that timeframe, except in cases of fraud or material misrepresentation.