Over 35 crypto firms have pressed the U.S. Securities and Exchange Commission (SEC) to formalize the DeFi broker guidance it recently issued. 

In the 3-page letter, the group led by advocacy firm DeFi Education Fund said, 

We’re requesting the SEC formalize the principles in the statement in notice-and-comment rulemaking, so we have durable regulatory clarity that lasts.

The coalition hailed the agency’s guidance on the 13th of April, which stated that certain non-custodial DeFi user interfaces could operate without requiring the broker-dealer or exchange registration.  

However, such informal guidance can be challenged in court and doesn’t amount to the ‘durable clarity’ that the industry is seeking. Plus, a future SEC…