The SEC’s Division of Corporation Finance released updated Frequently Asked Questions regarding crypto assets and transactions on September 25, 2026. The document was subsequently revised on September 28, 2026.
Former federal prosecutor Renato Mariotti stated that the guidance is non-binding and lacks legal force. He emphasized that the FAQ reflects the views of SEC staff rather than the Commission itself.
The guidance covers topics such as staking receipt tokens, decentralized buyback programs, and marketing communications under the Howey test. It does not name specific protocols or assets.
The FAQ builds upon an Interpretive Release from March 17, 2026, and a proposed rulemaking from August 18, 2026. Legislative efforts like the Clarity Act remain stalled in Congress.
