Software developers building crypto wallets and trading interfaces just got a clearer path to connect users with regulated U.S. derivatives markets without becoming registered brokers themselves.

The Commodity Futures Trading Commission issued a no-action position Thursday stating that providers of what it calls “passive software” will not face enforcement for failing to register as introducing brokers or associated persons, provided they meet certain conditions. The guidance from the agency’s Market Participants Division covers applications that let users view market data, product offerings and position information, and submit orders for CFTC-regulated derivatives directly to registered entities.

The framework applies to products…