Solana Is Pushing to Draw the Line Between Code and Custody

The Solana Policy Institute has asked the SEC to formally separate centralized exchanges from non-custodial DeFi software. The message is blunt: developers write code; they don't run markets, and they shouldn't be regulated like brokers. This is an attempt to secure legal protection for open-source infrastructure before enforcement defines it. Regulation is coming either way; this is the fight over where it lands. $SOL $UNI