The Commodity Futures Trading Commission has broadened a no-action position so that any developer of “passive software” that lets users trade crypto derivatives no longer risks enforcement as an unregistered broker, according to a CFTC press release published September 17. The move extends an earlier March letter that applied only to a single self-custodial wallet developer, and it removes a layer of registration uncertainty for DeFi interfaces and crypto wallet software.

From One Wallet Developer to the Whole Industry

Set out in CFTC Staff Letter No. 26-25, the position follows Letter 26-09, which the Market Participants Division issued on March 17, 2026 to Phantom Technologies, a developer of software that passively enables trading…