The SEC unveiled a new policy Monday exempting certain decentralized finance interfaces from key registration requirements—a proactive move that indicates the regulator is moving full-steam ahead on its crypto agenda, with or without Congress.

The new policy, laid out today in an SEC staff statement, allows user interfaces for DeFi tools to forego registration as broker-dealers, so long as they meet certain requirements. User interfaces, as defined by the SEC, are services, created by crypto companies, that make it easier for self-custodial wallet holders to complete on-chain transactions.

Prior to President Donald Trump’s return to power, the SEC viewed such interfaces as squarely under the agency’s purview, given…