Frequently Asked Questions on the Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets
SEC STAFF: TOKEN BUYBACKS ON FUNCTIONAL PROTOCOLS DO NOT CONSTITUTE MANAGERIAL EFFORTS
SEC STAFF: LIQUID STAKING TOKENS ARE DIGITAL COMMODITIES OR TOOLS, NOT SECURITIES
SEC STAFF: MAINTENANCE, ENHANCEMENTS, SYSTEM GRANTS NOT CONSIDERED ESSENTIAL MANAGERIAL EFFORTS
SEC STAFF: PROMOTING CRYPTO UTILITY WITHOUT PROFIT CLAIMS GENERALLY NOT AN INVESTMENT CONTRACT
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