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🐋 WHALE WATCH: Big regulatory update today from the SEC regarding Covered User Interfaces.
Basically your favorite wallets and DeFi frontends just got a major shield. If you use a browser extension or app to interact with a protocol those developers are likely safe from broker dealer rules.
The rules are simple:
=> Users keep total control of their trades
=> Apps cant push specific tokens or recommend swaps
=> Fees must be fixed and transparent
=> No custody of user private keys
This is a massive step toward legitimizing decentralized infrastructure in the US.