SEC Staff Clarifies Token Buybacks and Liquid Staking in New FAQs

TLDR: Buybacks on functional crypto systems don’t signal a promise of essential managerial efforts. Non-functional systems face stricter scrutiny if buybacks are framed as yielding returns. Staking Receipt Tokens may qualify as digital commodities under certain issuer structures. SEC staff stress these FAQs are nonbinding and carry no legal force or effect. The U.S. Securities [...]

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