The SEC’s Division of Trading & Markets today issued a conditional no-action position that it would not object if compliant “user interfaces” designed to facilitate the execution of crypto securities transactions operate without registering as broker-dealers. In plain English, the staff’s position applies to interfaces operating in a neutral fashion by providing mechanics to facilitate
Cryptocurrency
The Clarity Act Advances Slowly, and The SEC and CFTC Anticipate Passage With A New Interpretation: Some Crypto Offerings Facilitated
By Frank Zarb & Louis Rambo on
There has been movement forward on the Clarity Act, and the SEC and CFTC have anticipated its passage by pre-emptively completing a “memorandum of understanding” that would be required by the Act, and by beginning the “rulemaking” process with a joint interpretive release distinguishing between “investment contract assets” regulated by the SEC and “digital commodities”…