SEC Updates Crypto Guidance on Buybacks and Staking

The U.S. Securities and Exchange Commission (SEC) has updated its FAQ to clarify that certain token buybacks, network maintenance services, and staking receipt tokens do not necessarily constitute investment contracts under federal securities law. This staff guidance follows similar actions by the CFTC, as both agencies address regulatory gaps following the stall of the CLARITY Act in the Senate. The SEC emphasized that this guidance is non-binding and does not create new legal obligations.