SEC Updates Guidance on Crypto Token Buybacks

The US Securities and Exchange Commission has revised its guidance on crypto token buybacks, adding a requirement that a system must have "no central party" for a buyback announcement to avoid being classified as a promise of essential managerial efforts. This update follows record spending of $638 million on buybacks by crypto projects through late August. The guidance is not legally binding but highlights ongoing regulatory scrutiny regarding control over token purchase programs.