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BTC $75,590.88 +1.40%
ETH $2,356.60 +0.93%
BNB $632.64 +1.97%
XRP $1.45 +2.77%
SOL $88.18 +3.74%
TRX $0.3237 -1.03%
DOGE $0.0987 +2.62%
ADA $0.2576 +3.71%
BCH $449.59 +2.20%
LINK $9.52 +2.79%
HYPE $43.56 -2.47%
AAVE $117.16 +10.35%
SUI $0.9997 +3.22%
XLM $0.1693 +5.54%
ZEC $332.39 -3.29%

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The U.S. SEC releases a statement providing key guidance: some cryptocurrency trading front-ends do not need to register as brokers

The U.S. Securities and Exchange Commission (SEC) Division of Trading and Markets issued a staff statement providing guidance on whether certain user interfaces used to generate trading instructions for crypto asset securities (Covered User Interface) need to be registered as broker-dealers.The statement noted that under specific conditions, providers of such interfaces may not need to register as broker-dealers under Section 15 of the Securities Exchange Act. These conditions include: not actively soliciting specific trades, not providing investment advice, not controlling or executing trades, generating trading instructions solely based on objective parameters, and fully disclosing the fee structure, potential conflicts of interest, and associated risks to users.The SEC emphasized that such interfaces typically exist in the form of websites, browser plugins, or wallet applications, used to convert trading parameters set by users into on-chain executable instructions, while also providing market data such as prices, paths, and fees.Additionally, the statement clarified that such exemptions do not apply to activities involving trade matching, fund custody, order routing, or providing investment advice. The relevant guidance is a temporary opinion and will automatically expire in 2026 if no further action is taken. The SEC stated that this move aims to provide a clearer regulatory framework for activities related to crypto asset securities and continues to seek market feedback.

Gate founder Dr. Han releases 13th anniversary open letter: Infrastructure capabilities will become the key to competition in the future cryptocurrency industry

On the occasion of its thirteenth anniversary, Gate founder and CEO Dr. Han published an open letter titled "Releasing the Power of Change Amidst Cyclical Transitions," reflecting on the platform's journey from early exploration to global development, and systematically elaborating on his judgments regarding industry cycles and future trends.Dr. Han pointed out that as CeFi continues to extend towards DeFi, the platform is moving from a centralized trading vehicle to a more open ecological structure. The cryptocurrency industry is shifting from "narrative-driven" to "infrastructure-driven," with the focus of competition shifting from products and scale to system capabilities and structural advantages. In the next cycle, platforms with infrastructure capabilities will no longer just be market participants but will become an important part of the rules.Dr. Han stated that Gate is gradually transitioning from a builder to a shaper of industry structure, continuously investing in trading depth, risk control capabilities, and global compliance systems, while simultaneously laying out in areas such as RWA, TradFi, DeFi, and AI. In addition, Gate is advancing its global brand building by establishing partnerships with top international sports IPs like the F1 Red Bull Racing Team and Inter Milan, accelerating connections with a broader global user base.In the future, Gate will continue to lay out around infrastructure capabilities, deepening investments in ecological connections, technological capabilities, and global systems to address a new stage of higher-dimensional industry competition.
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