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U.S. SEC Says Software Allowing Crypto Wallet Transactions Not Considered Broker
The staff said qualifying interfaces need not register as broker-dealers if they avoid custody, recommendations and order execution.
- The SEC stated that software interfaces allowing crypto transactions via self-hosted wallets won't require broker-dealer registration, providing clarity for developers while permanent regulations remain under development.
- Under President Donald Trump, the SEC reversed previous resistance to crypto, embracing the technology to clear a path for industry growth and regulatory certainty.
- The agency provided a checklist requiring interfaces to avoid soliciting investors for specific trades and refraining from commentary on execution routes to remain unregulated.
- "The staff is providing its views as an interim step," the document said; these statements lack the permanence of full-fledged rules and carry no independent legal force.
- As the Senate continues work on the Clarity Act to cement regulations into law, SEC Chairman Paul Atkins is simultaneously developing formal rules to provide greater certainty.
26 Articles
26 Articles
SEC Staff Exempt Certain Crypto Wallet Interfaces From Broker-Dealer Registration Requirements
The SEC's Division of Trading and Markets said Monday that certain non-custodial crypto wallet interfaces don't need to register as broker-dealers, in interim guidance that will remain effective for five years.
A Massive Win for XRP? What the SEC's Newest Crypto Rule Means for XRPL DEX
The US Securities and Exchange Commission (SEC), on April 13, published a staff statement clarifying that certain user interfaces for crypto asset securities may not need broker-dealer registration. According to a community contributor, the XRP Ledger’s built-in DEX appears to fit the criteria almost by accident. SEC Guidance Draws the Line Between Interfaces and Brokers In its statement, issued under its Project Crypto initiative, the SEC for t…
Through an official statement, the Securities and Exchange Commission (SEC) considers that, under certain conditions, wallets facilitating crypto trading do not need to register as a broker. Let's look at this more closely. Article A revolution for crypto wallets? The SEC publishes a particularly promising statement appeared first on Cryptoast.
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