SEC’s new crypto FAQ is a reference, not a shield, says Renato Mariotti

Each sentence links inside to the piece that supports it.

Firms that deal with crypto transactions are the ones most directly affected right now, because the SEC has put out staff views on token buybacks and other transaction types. That gives compliance teams a reference point for how the agency is thinking about these issues today, even though the FAQ itself does not carry legal force.

In practice, the release adds written guidance on token buybacks and on topics that were already covered in March, while leaving separate proposed rules still open. What does not change is that the FAQ remains guidance rather than binding law, so it does not replace the rulemaking process.