Midnight Square

Yes — this hashtag refers to a recent SEC crypto clarification. In simple terms: token buybacks, network upgrades, or development activity do not automatically make a crypto token a “security.” The SEC says the classification depends on the specific facts and circumstances, including whether purchasers have an expectation of profits from the essential managerial efforts of others. � The Block +1 So: Buyback ≠ automatically a security Network upgrade ≠ automatically a security Utility/development ≠ automatically a security But a token can still be subject to securities laws depending on how it is offered and the rights/expectations involved. � SEC The hashtag #SECSaysBuybacksUpgradesDontMakeTokenSecurity is therefore a shorthand for this regulatory clarification, not a statement that all tokens with buybacks or upgrades are non-securities.#SECSaysBuybacksUpgradesDontMakeTokenSecurity