Plume Network Proposes Function-Based Vault Regulation to SEC
Plume (PLUME)
Editor:
Eugene Serbin
Cryptotimes.io reports that Plume Network met with the SEC’s Crypto Task Force on September 22 to discuss onchain vault regulation. Plume General Counsel Salman Banaei submitted a proposal on September 21 arguing that rules should attach to specific vault activities rather than the technology itself. The company divided the vault ecosystem into four roles: developer, curator, administrator, and token issuer.
Plume suggested that immutable protocol developers providing self-executing infrastructure should be treated differently from curators who exercise investment discretion. The proposal argues that regulatory focus should sit with the curator and token issuer when applicable. Plume noted that SEC submissions are published without modification and do not necessarily reflect the agency's views.
The framework suggests that applicable regimes depend on factors like compensation, assets held, and distribution methods. Plume also requested clarity on registered funds using onchain vaults for custody and proposed recognizing wallet addresses as valid securityholder registrations. This follows similar meetings by Aave Labs in June and Steakhouse Financial regarding DeFi vault products. Plume is expanding its regulated real-world asset infrastructure, including approval for its Kimber Digital Assets Bermuda entity.
How the market reacted
Whalio's own Binance spot order flow for PLUME, measured when this story was written up on 23 September 2026. Not the outlet's figures.
Plume is trading at $0.01635 with a 24-hour buy ratio of 56.4%, indicating that buyers are currently dominating the market. However, the 1-hour buy ratio has dropped to 54.7% and the 4-hour ratio is lower at 49.2%, suggesting that short-term buying pressure is fading relative to the daily average. The 24-hour volume delta is positive at +$451,615, showing net accumulation over the day, but the 4-hour delta is negative at -$22,656, indicating recent selling. The 1-hour volume delta is slightly positive at +$9,765, showing a brief pause in the selling pressure. CVD for the 24-hour close stands at +$18,230, confirming that cumulative buying has outweighed selling over the full day. This data shows that while the day ended with net buying, the immediate momentum is shifting toward sellers.
The latest daily buy ratio of 55.9% sits at the 96th percentile of the last 322 days, against a median of 49.4% - among the strongest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for PLUME, averaged over the days leading up to the story.
Over the preceding week, Plume saw a 7-day average buy ratio of 49.8%, making today’s 24-hour ratio of 56.4% an unusually strong day for buyers. The 24-hour spot volume of $3,490,157 was 1.63 times the weekly average, signaling significantly higher activity than usual. Price increased by 31.1% over the eight-day period, with a total volume delta of +$562,970. Net buying occurred on 3 of the 7 days, indicating that the recent surge is part of a broader upward trend rather than an isolated event. This volume and price action represent a substantial deviation from the coin's typical trading patterns over the last week.