SEC Issues Broker-Dealer Guidance for Crypto User Interfaces, Tokenization Initiatives Advance, CFTC Chairman Testifies and 9th Circuit Hears Prediction Markets Arguments

The SEC’s Division of Trading and Markets issued a staff statement articulating the conditions under which providers of certain crypto asset securities user interfaces may operate without registering as broker-dealers under the Securities Exchange Act of 1934. The SEC also advanced its broader initiative regarding tokenized securities, which included remarks by Division Director Jamie Selway confirming that the Division is working on an “innovation exemption” recommendation to allow certain... By: Paul Hastings LLP