Wu Blockchain (@WuBlockchain): SEC Clarifies Certain DeFi UIs Can Operate Without Broker-Dealer Registration
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SEC Clarifies Certain DeFi UIs Can Operate Without Broker-Dealer Registration The SEC’s Division of Trading and Markets said certain crypto trading interfaces, including DeFi front-ends, wallet extensions, and mobile apps, may operate without broker-dealer registration if specific conditions are met. These include no order routing, no investment advice, no custody of user assets, and only fixed, neutral fee structures. The guidance applies to self-custodial wallet interfaces and will remain effective for five years unless superseded by further SEC action.