Arche Capital Substack · Apr 13, 2026

The SEC Just Told Crypto Apps Exactly When They Need to Register as Broker-Dealers

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The Division of Trading and Markets issued a landmark staff statement today that every DeFi builder, wallet provider, and institutional allocator needs to read carefully.

The SEC’s Division of Trading and Markets dropped a significant staff statement this morning: a functional test for when digital interfaces — wallets, web apps, mobile trading front-ends, DEX aggregators — cross the line into broker-dealer territory and trigger mandatory registration under the Securities Exchange Act.

This is not theoretical. It’s a dire…

Read on archecapital.substack.com ↗

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