The SEC's New Crypto & Tokenization Guidance Explained! | Landon Zinda

May 12, 2026

AI Summary

5 min read

Landon Zinda, counsel to the SEC Chairman and senior advisor for the agency's Crypto Task Force, discusses recent staff guidance and ongoing efforts to clarify crypto regulation during an interview at the Solana Policy Institute Summit. He emphasizes that his views represent staff perspectives, not official Commission positions, as the SEC acts only by commissioner votes.

Recent Guidance on Trading Interfaces

On the day of recording, SEC staff from multiple divisions issued a statement clarifying that crypto trading interfaces handling tokenized securities typically do not need to register as brokers. These interfaces function as user-directed tools: they relay user instructions to the blockchain without taking control of decisions. Even if they involve transaction-based compensation—a common trigger for broker registration—the staff views them as execution facilitators, not intermediaries requiring registration. This provides a compliance pathway for platforms enabling self-directed trades of tokenized assets, reducing regulatory burdens where interfaces mimic user wallets or automated relays.

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What you'll learn

1 (00:51) **Guest Introduction** - Hosts introduce Landon Zinda, SEC counsel and Crypto Task Force advisor
2 (01:08) **SEC Disclaimer and Today's Announcement** - Landon disclaimers as staffer; explains new staff statement on crypto interfaces not requiring broker registration
3 (02:33) **Crypto Task Force Mission** - 15 staffers creating regulatory pathways for crypto compliance
4 (02:52) **Recent Commission Interpretation on Tokens** - Official guidance on when tokens are securities vs. not under Howey test
5 (03:57) **Landon's Background** - Crypto policy work for Rep. Tom Emmer, Sen. Toomey, Coin Center; now advises Hester Peirce and Chairman
6 (05:12) **Reg A Crypto for Fundraising** - Upcoming guidance like Hester Peirce's safe harbor for post-Howey decentralization
7 (07:28) **Tokenization Guidance** - Staff statement on tokenizing securities: issuance methods, rights representation

+ Full timestamped outline available in the app

Show Notes

Landon Zinda, Counsel to the Chairman and Senior Advisor for the Crypto Task Force at the Securities and Exchange Commission, sat down with us at the Solana Policy Institute’s Summit to discuss the SEC’s guidance on crypto securities, crypto wallets, tokenization, the Clarity Act, and more. Brought to you by 🌟 Build with BitGo - https://bitgo.com/?utm_source=thinking_crypto&utm_medium=brand&utm_campaign=sponsorship
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⏰ Time Stamps ⏰
00:00 Intro
00:50 SEC Crypto Wallets
01:49 Crypto task force
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