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U.S. SEC says software allowing crypto wallet transactions not considered broker

U.S. SEC says software allowing crypto wallet transactions not considered broker

The U.S. Securities and Exchange Commission said that software that sets up user interfaces allowing crypto securities to be transacted through individuals’ wallets won’t need to be registered and regulated as a broker.

In the latest of the agency’s staff statements on crypto — now a wide-ranging list of views meant to allow the crypto industry to move forward in the absence of permanent rules — the SEC staff said on Monday that the websites or software used by people pursuing securities transactions with their self-hosted wallets won’t itself be considered as belonging to the broker-dealer category. That tracks with the agency’s recent stance that developers should be able to write software without triggering such regulations.

The…

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