Unaffiliated Governance Voters Generally Aren’t a Controlling ‘Group,’ SEC Staff Say

Unchained Wed, 04 Nov 2026 00:05:00 GMT

SEC staff added three FAQ answers on Nov. 2 saying unaffiliated token holders voting through a network's governance generally are not a controlling 'group' under the agency's digital commodity framework. The answers also affect how the staff's buyback guidance applies, which was narrowed on Sept. 28 to systems with no central party. The clarification matters for token issuers and governance designs.

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