SEC updates crypto guidance after CLARITY setback

• The SEC updated staff FAQs explaining how securities laws apply to certain crypto assets and transactions.
• The guidance covers functional networks, staking receipt tokens, buybacks and promotional statements.
• The update followed CFTC guidance issued days after the Senate failed to advance the CLARITY Act.

The U.S. Securities and Exchange Commission updated crypto guidance covering certain assets and transactions on September 28.

The guidance explains how functional crypto systems without central parties can affect the securities-law analysis.

It also addresses buybacks involving crypto assets used on functional systems without central parties.

The SEC also addressed buybacks, saying certain programmes would not create investment contracts for functional systems without central parties.

“I’m pleased to see staff update these frequently asked questions consistent with the agency’s ongoing efforts to provide regulatory clarity for the crypto industry,” CFTC Chairman Michael S. Selig said in a statement.

The CFTC guidance covers customer investments in tokenised permitted assets and blockchain-based recordkeeping.

Both updates arrived after the Senate failed to advance the CLARITY Act on September 15.

The initiative marks a direct shift toward light-touch federal oversight across emerging digital asset markets.