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

BlockBeats news, September 29: Crypto reporter Eleanor Terrett posted that the U.S. Securities and Exchange Commission (SEC) has updated its crypto frequently asked questions (FAQ) regarding token buybacks, adding a new provision stating that if there is no centralized entity behind a token buyback, the arrangement is likely not to constitute an investment contract. This move follows comments last week by Miles Jennings, general counsel and head of policy at a16z crypto, who said the previous wording could "allow issuers to announce buyback plans without that announcement thereby constituting an investment contract."