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The latest U.S. SEC staff statement has clarified how broker-dealer registration applies to certain decentralized finance (DeFi) interfaces.
Avery Ching pointed out that the statement explains the SEC staff's view of DeFi and underscores why both DecibelTrade and Aptos architecture remain fully onchain and decentralized. According to Ching, a trading interface does not require an additional registration to operate within these parameters.
Ching previously noted that encrypted transactions on Aptos can protect user intent by concealing it until ordering is finalized. He also reported that Aptos rose to number 10 in daily chain fees burned, driven by increased market activity on DecibelTrade. These developments have continued to draw attention to the platform’s onchain activity.