Dissolve yeast in warm water in a small bowl; let stand 5 minutes.
Lightly spoon flour into dry measuring cups; level with a knife. Combine flour, sugar, salt, baking powder, and baking soda in a large bowl. Cut in butter with a pastry blender or 2 knives until mixture resembles coarse meal. Add yeast mixture and buttermilk; stir just until moist. Cover and chill at least 2 hours or overnight.
Preheat oven to 450°.
Turn dough out onto a floured surface; knead lightly 6 times. Roll dough out to 1/2-inch thickness; cut with a 2 1/2-inch biscuit cutter. Place on a baking sheet coated with cooking spray. Spray tops lightly with cooking spray. Bake at 450° for 14 minutes or until golden.