According to CoinMeta, the U.S. Securities and Exchange Commission (SEC) has updated its frequently asked questions regarding cryptocurrencies, stating that token buybacks are no longer considered a commitment to "fundamental management efforts." This update is of significant importance to the crypto community, especially after previous governments' crackdowns on cryptocurrencies. As noted by SEC, if a network is functioning normally, announcing a token buyback does not constitute a security. This move brings legal clarity to several crypto protocols, allowing them to conduct token buybacks without violating securities laws. The buyback projects tracked by DefiLlama include Hype, Pump, AAVE, among others, which have been operating in a legal grey area and have now gained regulatory approval.