🚨 BREAKING : SEC staff issue new FAQ guidance clarifying how federal securities laws apply to crypto assets Staking receipt tokens can qualify as non-security digital tools or commodities Promoting a network's utility alone generally does NOT create an investment contract Continued development of an already-functional network does NOT necessarily satisfy the Howey test Token buybacks on functional networks generally do NOT constitute "essential managerial efforts" 👀 Important caveat: this reflects staff views only, not a binding rule — it carries no formal legal force Comes right as the Clarity Act stalls in the Senate — the SEC is now doing exactly what it said it would: using existing authority to build clarity project by project, FAQ by FAQ, without waiting on Congress ⛓️