The US Securities and Exchange Commission tightened its guidance for crypto token buybacks on September 28, just three days after its initial publication. The updated version adds a key condition: the system must not only be functional but also have no central party. This change is significant because many crypto projects use buybacks while retaining human control over these purchases. According to data reported by CryptoSlate, crypto projects spent a record $638 million on token buybacks through late August. The example of Pump.fun illustrates this complexity: the platform distinguishes between automatically programmed purchases and purchases dependent on future decisions.
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