Ondo Finance submits a no-action request to the SEC to promote on-chain operation of the OGM product chain

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ME News, April 13 (UTC+8): According to Ondo Finance’s official blog, Ondo Finance recently submitted a request for no action to the U.S. Securities and Exchange Commission (SEC). The request is intended to confirm that the SEC will not take enforcement action against its model for tokenized management of certain security interests on the Ethereum mainnet. This request mainly relates to its Ondo Global Markets (OGM) product. OGM is a tokenized notes product that provides U.S. stock and ETF exposure to non-U.S. investors. Under this model, the underlying securities remain protected by existing legal, custody, and record-keeping frameworks; the official ledgers and records are unchanged. Only in limited circumstances are the security interests mapped to the Ethereum mainnet in tokenized form, with custody by BitGo, to support the related record-keeping and operational workflows. (Source: MLion)

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