The SEC Division of Corporation Finance released new crypto guidance on September 25 covering staking receipt tokens, wrapped assets, buybacks, and functional networks. The update explains how certain crypto activities may not create investment contracts under existing federal securities laws. However, the guidance represents staff views and does not create new legal requirements.

The latest FAQs clarify how SEC staff evaluates different crypto assets and network activities. The document focuses on whether specific actions involve ongoing managerial efforts linked to investment expectations. Therefore, the guidance highlights conditions that may affect how digital assets are treated under securities laws.

The SEC staff explained that some…