According to CoinMeta, the Financial Department of the U.S. Securities and Exchange Commission (SEC) has updated its guidelines regarding cryptocurrencies. It is clarified that when a network possesses certain functionalities, token buybacks do not constitute a key management effort and therefore do not meet the criteria for certain regulatory tests. Maintenance, upgrades, and expansions of a functional network, as well as promotional statements about existing features or general visions that do not involve profit generation, also do not meet these regulatory criteria. If the network does not yet have these functionalities, and the issuer promotes token buybacks as a source of income or return for holders, it may still trigger the application of securities laws. (Source: Decrypt)