The SEC's jurisdiction is coming from the fact that the tokens we're talking about here are crypto asset securities.

So it absolutely does pave the way for tokenized securities to be available to users and for users to utilize front ends in order to access protocols where tokenized securities trade. Markets move markets move fast.

Crypto moves faster.

From the floor of the New York Stock Exchange,

CoinDesk's public keys tracks the money, markets, and moves shaping digital assets. We had a really big defy development this week, and to discuss

it more with us, we're going to bring in Amanda Tuminelli, CEO and CLO of the Defi Education Fund.

Welcome, Amanda. Thanks for having me. So tell us what happened over at the SEC this week that really impacts Defi and I think is, in my opinion, is the hottest topic, but we saved it for you to discuss.

Well, thank you so much for that.

So on April 13th, so that was last Monday, the SEC put out a staff statement that defines what a covered user interface is and says the covered user interfaces that meet the criteria in the statement are not required to register as brokers under the 34 Act. So this was hugely helpful information for the industry to understand how

division staff, so not just the Crypto Task Force, right? SEC division staff is thinking about

the broker registration requirements. And that's a big deal because what we've seen to date is like you couldn't get tokenized Apple in your metamask in the United States.

And does this pave the way for that?

It does. And thank you for that little flag.

It does talk about crypto asset securities, right?

So the SEC's jurisdiction is coming from the fact that the tokens we're talking about here are crypto asset

securities. So it absolutely does pave the way for tokenized securities to be available to users

and for users to utilize front ends in order to access protocols where tokenized securities trade.

So the statement does talk about different ways that the user interface

can operate. User interface can charge a fee, which is a huge factor that was up for discussion

over the past several months and can do other things like provide routes to the user, show the user

what other options they may

have when it comes to trading tokenized securities.

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