The US Securities and Exchange Commission (SEC) has updated its crypto FAQ regarding token buybacks, according to Eleanor Terrett, host of the US podcast 'Crypto in America'. Accordingly, a new clause has been added stating that 'if there is no central party initiating the token buyback, it is highly likely not to constitute an investment contract.' Previously, last week, Miles Jennings, a16z Crypto Policy Lead and General Counsel, pointed out the existing wording, saying, "Even if an issuer announces a buyback program, it can provide room for the announcement itself not to constitute an investment contract."
