The regulator noted that certain software interfaces used to prepare crypto asset securities transactions may fall outside broker-dealer registration rules if specific operational and disclosure conditions are met.
The staff of the Securities and Exchange Commission (SEC)'s Division of Trading and Markets said it has issued a statement on April 13 to clarify how broker-dealer registration requirements apply to certain ‘covered user interfaces’ used in preparing transactions in crypto asset securities. The staff highlighted the need for covered user interface providers The staff noted that the statement seeks to provide interim guidance on the application of Section 15(a) of the Securi