The SEC moved the crypto market structure forward on Apr. 13 without waiting for Congress to act.
The agency’s Division of Trading and Markets published a staff statement on Covered User Interfaces, such as websites, browser extensions, wallet-linked apps, and mobile applications that help users in self-custodial setups prepare transactions in crypto asset securities.
Staff said it will not object to these providers operating without broker-dealer registration under Exchange Act Section 15, provided they stay inside a strict set of behavioral and disclosure guardrails.
