SEC Updates Token Buyback FAQ: Arrangements Without a Centralized Entity May Not Constitute Investment Contracts

Odaily News: The U.S. Securities and Exchange Commission has updated its crypto FAQ regarding token buybacks, adding a new provision stating that if there is no centralized entity behind a token buyback arrangement, the arrangement may not constitute an investment contract. Previously, Miles Jennings, General Counsel and Head of Policy at a16z crypto, stated that the original wording could allow issuers to announce buyback plans without thereby constituting an investment contract.