SEC Staff: Token Buybacks on Functional Networks Don't Create Securities New SEC staff guidance clarifies that announcing a token buyback program on an already-functional blockchain network does not, by itself, transform that token into a security. The guidance centers on a key distinction: if a network is genuinely operational, a buyback announcement is not considered a contractual promise that investors are relying on for profit — the standard that typically triggers securities classification. One attorney described the position as making securities laws appear "opt-in" for crypto projects, given how narrowly the staff is drawing the line between a regulated security and an unregulated digital asset. The development signals a continued shift in how the SEC under its current leadership approaches crypto regulation, favoring functional-network status as a meaningful threshold in securities analysis. Source Trade on Binance
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SEC Staff: Token Buybacks on Functional Networks Don't Create Securities
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