PANews reported on April 13 that the U.S. Securities and Exchange Commission's (SEC) Division of Trading and Markets issued a staff statement regarding crypto user interfaces, stating that under certain conditions, some service providers offering "self-custodied wallets + front-end interfaces" are permitted to operate without registering as brokerages. The statement defines such "overlay user interfaces" as websites, applications, or browser extensions that help users actively initiate crypto asset securities transactions on blockchains or smart contracts through self-custodied wallets. The SEC stated that if the interface provider does not actively solicit investors, does not guide routing through expressions such as "best price," and establishes corresponding policies and processes for analyzing trading venues, enforcement "will not object" to their operation as a non-brokerage. This document represents a temporary staff position and does not constitute a formal rule; the SEC is also seeking industry feedback.