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Big Whale Trading
⚖️ The SEC just said token buybacks might not count as securities
It published 9 new FAQs on crypto assets, following its March guidance with the CFTC and the August Regulation Crypto Assets proposal $BTC
The interesting part: for tokens that aren't securities and sit on a live network, announcing a buyback program doesn't count as a promise of "essential managerial efforts" — same read for network upgrade commitments or promoting current utility
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