SEC Staff Issues Statement On Broker-Dealer Registration For Crypto Asset Securities User Interfaces

On April 13, 2026, the Staff of the SEC's Division of Trading and Markets issued a statement clarifying that certain providers of front-end user interfaces (”Covered User Interface Providers”) — such as websites, browser extensions, and mobile applications — used to prepare user-initiated transactions in crypto asset securities will not be required to register as broker-dealers under Section 15(a) of the Exchange Act, provided they satisfy specified conditions.¹ The statement applies to interfaces that convert user-identified transaction parameters into blockchain-legible commands for signature and transmission via a user's self-custodial wallet.²

The statement notes that it “is not a rule, regulation, guidance, or statement of the Commission,” that the Commission has neither approved nor disapproved its content, and that it has “no legal force or effect.” Accordingly, the statement does not create binding precedent and could be withdrawn or modified by the Staff or superseded by