SEC Staff Says Token Buybacks Don’t Make Crypto a Security—If the Network Works

New SEC staff guidance says announcing a token buyback on a functional network isn’t a promise that turns the token into a security, a shift one attorney says makes securities laws look “opt-in.”New SEC staff guidance says announcing a token buyback on a functional network isn’t a promise that turns the token into a security, a shift one attorney says makes securities laws look “opt-in.”