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U.S. regulators made sweeping moves on March 17, 2026, according to Jake Chervinsky. The CFTC released a no-action letter clarifying that non-custodial wallet providers are not intermediaries, while the SEC issued a rule with long-awaited guidance on applying the Howey test to crypto. SEC Chair Atkins also announced plans for 'Reg Crypto,' a safe harbor designed for token issuers.
These actions mark significant regulatory developments for the crypto industry.
These latest regulatory steps underscore ongoing debates surrounding non-custodial software and privacy rights, themes highlighted during industry discussions on KYC requirements for DeFi front ends. The broader context of these developments was explored in the analysis of privacy concerns presented in Jake Chervinsky's opposition to mandatory KYC for DeFi platforms.