The SEC updated its policies on how federal securities laws apply to crypto assets, following a similar move by the CFTC which had published guidance the previous week. These new FAQs, which are non-binding, clarify that token buyback programs, decentralized crypto networks, and staking tokens do not automatically qualify as investment contracts under the Howey test. The updates come after the Senate failed to pass a cloture vote on the CLARITY Act, a bill that would have clarified the respective roles of the two regulators. Commissioner Hester Peirce, known as “Crypto Mom” for her advocacy of the industry, announced her resignation effective October 2, leaving the SEC leadership with just two Republican members. As of now, President Donald Trump has not announced any candidates to replace Peirce or the two remaining Democratic SEC seats.
Source: Read the original article
