Crypto Groups Want SEC to Make DeFi Wallet Rules Permanent

Major cryptocurrency organizations are asking the U.S. Securities and Exchange Commission (SEC) to make permanent its recent guidance about DeFi wallets (digital wallets that let users interact with decentralized finance applications).

### What Happened

The DeFi Education Fund and 35 other crypto industry groups sent a letter to the SEC this week. They want the agency to turn its April 13 guidance into official rules. This guidance said that certain DeFi interfaces (websites or apps that connect users to blockchain services) don't need to register as broker-dealers (companies that must follow strict financial regulations when helping people buy and sell securities).

### Why It Matters

The SEC's current guidance is just a temporary statement, not a permanent rule. The crypto groups worry this guidance could be changed or removed at any time. They want the SEC to create "principles-based framework" (clear, flexible rules) that would give the industry certainty about what's allowed.

### Who's Involved

Major players in the crypto industry signed the letter, including: • Crypto Council for Innovation • Blockchain Association • Solana Policy Institute • Aave Labs, Andreessen Horowitz, Uniswap Labs, and Mysten Labs

### The Bottom Line

The crypto industry sees the SEC's April guidance as "an important step" but wants permanent rules. Without formal regulations, companies building DeFi wallets and interfaces remain uncertain about their legal status. The industry is pushing for clarity to support innovation while still allowing the SEC to regulate companies that pose real risks to investors.

This is an AI-generated summary. Read the original article at: https://www.theblock.co/post/398821/defi-education-fund-crypto-leaders-press-sec-lock-in-defi-broker-guidance?utm_source=rss&utm_medium=rss