Over twenty cryptocurrency companies and advocacy groups, led by the DeFi Education Fund, have urged the SEC to formalize recent guidance on DeFi interfaces into official rules. They argue that informal statements do not provide long-term certainty. Previously, SEC staff indicated that some non-custodial user interfaces, such as DeFi front-ends and wallets, might not fall under broker-dealer regulatory requirements. The coalition warns that without formal rules, future SEC leadership could broaden the definition of "broker" to include software developers and infrastructure providers, potentially stifling innovation.