"While the staff expressing its view is helpful, I favor a more permanent regulatory approach that addresses the broker definition in light of current market circumstances."
"The law is already clear that wallets and interfaces do not become brokers solely because they enable users to create or control self-custody wallets or transmit instructions to a blockchain."
"These remarks reinforce a distinction between infrastructure providers and regulated intermediaries."
SEC Commissioner Hester M. Peirce emphasized the importance of establishing lasting regulatory clarity for crypto interfaces, particularly regarding broker definitions. Recent SEC guidance outlines when crypto interface providers and self-custody wallet services can avoid broker-dealer registration in on-chain securities transactions. Peirce advocates for a permanent regulatory framework that reflects current market conditions, distinguishing between infrastructure providers and regulated intermediaries. She reaffirmed that existing laws clarify that wallets and interfaces do not automatically qualify as brokers based on their functionalities.
Read at news.bitcoin.com
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