SEC staff outlines conditions for crypto trading interfaces to avoid broker registration

Apr 13, 2026, 5:21:00 PM UTC(3 hours ago)

Impact: Medium

Affected Assets

The SEC Division of Trading and Markets issued guidance on April 13, 2026, regarding covered user interfaces like DeFi front-ends and wallet apps
Software providers may qualify for an exemption if they function as neutral interfaces and do not exercise judgment or influence over trading activity
To avoid registration, platforms must limit discretion and avoid conflicts of interest while facilitating self-custodial wallet transactions
While the statement is not a formal binding rule, it signals the staff enforcement posture and provides interim guidance for the industry
Experts view this as a fast-track oversight strategy using interpretive rules to bypass lengthy formal rulemaking processes

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