SEC Clears Token Buybacks for Crypto Networks

The significance here is less the buyback itself than the signal that the SEC is willing to draw lines around protocol treasury operations at all, after years in which the absence of guidance functioned as a de facto prohibition. That shift matters most for token issuers and their counsel, who have been pricing regulatory ambiguity into everything from treasury policy to listing decisions. The open question is scope: without detail on what the guidance permits or restricts, the market is left to infer how far the new posture extends beyond buybacks.