Quick Facts
| Parameter | Value |
|---|---|
| License name | SEC Broker-Dealer (Crypto) |
| Country | United States |
| Regulator | SEC + FINRA |
| What it covers | Broker-dealer for crypto-securities |
| Minimum capital | Net capital rules apply |
| Timeline | 12+ months |
What is the SEC Broker-Dealer (Crypto)?
The SEC Broker-Dealer (Crypto) is a regulator authorisation issued by SEC + FINRA that allows a regulated entity in United States to provide the services covered by the regime. For tokenised security trading.
Who needs a SEC Broker-Dealer (Crypto)?
Operators offering services that fall within the activity definition supervised by SEC + FINRA. The activity scope captures broker-dealer for crypto-securities — and you should treat anything within or adjacent to that scope as caught until the structure has been opined on.
How the SEC Broker-Dealer (Crypto) application works
The application is run as a structured five-stage workstream: scoping and gap analysis, incorporation and substance, AML/KYC programme drafting, regulator submission and RFI cycles, and post-licence onboarding. Total time from kickoff to authorisation is 12+ months.
Cost of the SEC Broker-Dealer (Crypto)
The total first-year cost combines: regulator fee, statutory capital tied up at Net capital rules apply, legal fees confirmed at engagement, substance (resident director, office, AML officer where required), and the first year of ongoing supervision. We provide a fixed-scope quote at engagement so the number is not a moving target.
Pitfalls to avoid
- Mismatched substance. Paper directors and serviced offices are detected at first examination. Substance must be substantive;
- Generic AML programmes. SEC + FINRA reads policies as a competency signal — generic templates are visible;
- Banking afterthoughts. A licence without a bank account is a paperweight. Banking is part of the engagement, not bolted on after authorisation;
- Ignoring the year-one supervision burden. Authorisation is the start. Annual audit, AML refresh and material-change notifications are calendared from day one.
Frequently asked questions
What does the SEC Broker-Dealer (Crypto) cover?
The SEC Broker-Dealer (Crypto) authorises broker-dealer for crypto-securities. It is supervised by SEC + FINRA. For tokenised security trading.
What is the timeline for the SEC Broker-Dealer (Crypto)?
Typical timeline is 12+ months from kickoff to authorisation. Variance comes from RFI cycles and the quality of the application file at submission, not from the published schedule.
What is the minimum capital for the SEC Broker-Dealer (Crypto)?
Statutory capital is Net capital rules apply. Capital is one input — substance, governance and the AML programme usually drive the application outcome more than the capital line on its own.
How does the SEC Broker-Dealer (Crypto) fit alongside other United States licences?
Most operating models in United States combine SEC Broker-Dealer (Crypto) with one of the other available regimes — see the full list on the United States page.
Who supervises SEC Broker-Dealer (Crypto) authorisation in United States?
SEC + FINRA is the supervising authority. The same regulator handles ongoing supervision after authorisation, including annual returns and material-change notifications.