{"id":"tp-24896","type":"article-newspaper","title":"SEC Staff Says Functional-Token Buybacks Do Not Promise Managerial Efforts","author":"Riza Dagoc","publisher":"TOKENPOST Inc.","url":"https://www.tokenpost.com/news/regulation/24896","datePublished":"2026-09-28T12:21:59.000Z","dateModified":"2026-09-28T12:21:59.000Z","language":"en","abstract":"Updated FAQ guidance says buyback announcements generally do not satisfy the Howey test once a crypto system is functional, but conditions differ before launch.","section":"Regulation","references":[]}