US SEC Statement: DEX front-end and wallet interface providers are not required to register as broker-dealers under certain conditions.

According to Foresight News , the U.S. Securities and Exchange Commission (SEC) Division of Trading and Markets issued a staff statement providing clear guidance on whether "user interface providers" (such as DEX front-ends, wallet embedded interfaces, etc.) that prepare users for trading crypto asset securities need to register as broker-dealers. The statement indicates that SEC staff will not object to providers operating without registering as broker-dealers, provided they meet a series of conditions, including: allowing users to customize trading parameters, not actively soliciting specific trades, charging fixed fees independent of trading paths and counterparties, fully disclosing conflicts of interest and fee structures, not holding or controlling user funds, and not providing investment advice. This statement explicitly does not apply to entities engaged in matching trades, providing investment advice, processing trading documents, or holding user funds. The statement is valid for five years, starting April 13, 2026, and the SEC is also soliciting public comments on its content.