SEC staff addresses broker-dealer registration requirements for crypto transaction interfaces
Crowdfundinsider •
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Promote with Leviathan NewsThe SEC's Division of Trading and Markets issued a staff statement clarifying how broker-dealer registration rules apply to user interfaces that prepare transactions in crypto asset securities — directly relevant to DeFi frontends, non-custodial wallets, and DEX interfaces. This builds on the SEC Crypto Task Force's ongoing push for regulatory clarity, following the March 2026 joint SEC-CFTC interpretation and December 2025 custody guidance, and addresses a long-standing gray area over whether passive, non-custodial UI providers that don't control assets or exercise discretion over trades trigger securities intermediary obligations. Significant for any protocol or company operating a frontend that touches tokenized securities.
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