SEC Proposes Certain Crypto Interfaces Don’t Need to Register as Brokers

The US Securities and Exchange Commission (SEC) Division of Trading and Markets issued a staff statement providing guidance on when software interfaces facilitating crypto asset transactions do not require broker-dealer registration. The exemption applies to interfaces that assist users with self-custodial wallet transactions, provided they refrain from soliciting specific trades or influencing execution routes. While this guidance aims to clarify the application of federal securities laws, Commissioner Hester Peirce noted that a more formal regulatory approach is still needed. The move occurs amidst a transition in SEC leadership, as the agency currently operates with reduced staffing following recent departures.

(Source：Cointelegraph)