6.8 Regulation SEC允许部分DeFi平台在满足非托管、无投资建议和固定费用等条件下，无需注册经纪商或KYC，豁免期五年，减轻合规压力。
美国证券交易委员会（SEC）发布新指南，显著放宽对去中心化金融（DeFi）协议的监管。根据最新框架，部分DeFi用户界面（如网页平台、钱包插件和移动应用）在满足严格条件下，无需注册为经纪自营商即可运营。 这些条件包括：平台必须保持非托管性质、不提供投资建议、不引导订单，并采用固定且中立的手续费结构。用户需完全掌控自己的钱包和私钥，平台不得设有内部订单簿，仅能连接到公开、无需许可的智能合约。 SEC强调，每个项目需根据自身结构进行合规评估，标签本身不能决定法律地位。该豁免有效期为五年，期间符合条件的平台可免除KYC（了解你的客户）要求。这一监管转变为DeFi行业带来关键转折，为合规项目提供明确指引并减轻合规负担。
SEC Lets Self‐Hosted Crypto Wallets Stay Outside Broker Regime, for Now
Game Over for SEC Crypto Crackdown? DeFi UIs Get 5-Year Broker Pass
New Pro-DeFi Policies Show the SEC Isn't Waiting for Congress to Act on Crypto
SEC Outlines Conditions for Crypto Trading Apps, Wallets to avoid broker-dealer registration.
SEC Defines Rules for DeFi Apps to Operate Without Registration
SEC Outlines Conditions for Broker Exemption in Crypto Trading
U.S. SEC Provides Pathway for DeFi Platforms to Operate Without Broker-Dealer Registration
SEC Gives DeFi Front-Ends a Narrow Path Around Broker-Dealer Rules
SEC Clears Path for DeFi Front-Ends to Operate Without Broker-Dealer Registration
SEC Defines Limits for DeFi Platforms Operating Without Licenses
SEC DeFi Exemption: Landmark Guidance Spares Non-Custodial Protocols from Broker-Dealer Rules
SEC Introduces New Guidelines Impacting DeFi’s Future
SEC eases registration rules for DeFi protocols, waives KYC for key interfaces
SEC Confirms Certain DeFi Platforms Can Operate Without Licensing
