U.S. SEC Clears Path for Decentralized Crypto Asset Security Trading With Broker Registration Exception for User Interfaces
On April 13, 2026, the staff of the Division of Trading and Markets (Staff) of the U.S. Securities and Exchange Commission (SEC or the Commission) issued a statement (Statement) that it would not object to certain technology providers — referred to as “Covered User Interface Providers” — creating, offering, and/or operating software interfaces that allow users to prepare and submit transactions in crypto asset securities without registering as broker-dealers.
SEC Releases Landmark Interpretation on Application of U.S. Securities Laws to Crypto Assets, in Coordination With CFTC
On March 17, 2026, the U.S. SEC issued a commission-level interpretive release, “Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets” (the Interpretation.)1 The Interpretation is the SEC’s most comprehensive statement to date on the application of the Securities Act of 1933 and the Securities Exchange Act of 1934 (together, the Securities Laws) to crypto assets and provides market participants with meaningful certainty.
Engage with the U.S. SEC’s Crypto Task Force and Shape the Future of Crypto Regulation
On February 21, 2025, Commissioner Hester Peirce of the U.S. Securities and Exchange Commission (SEC) issued a statement inviting public input on a wide range of issues related to crypto assets and blockchain technology (the Statement). Although the Statement was issued by Commissioner Peirce in her individual capacity and does not necessarily reflect the views of the Commission or other Commissioners, it resembles a concept release in its scope and format, inviting public input on a wide range of issues concerning crypto assets and blockchain technology.
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