Sec Says Meme Coins Are Not Securities | Techcrunch
The Securities and Exchange Commission issued guidance on Thursday saying it does not view most meme coins, which are crypto tokens that originated from memes, as securities under United States federal law. The SEC argues that meme coins do not generate a yield or convey rights to future income, profits, or assets of a business, viewing them more like collectibles. This stance represents a stark contrast to the views of former chairman Gary Gensler, who repeatedly called for crypto tokens to be treated as securities.
- The ambiguity surrounding meme coins highlights the need for clear regulatory guidance in the rapidly evolving cryptocurrency market, where investor protection and market stability are increasingly critical concerns.
- How will the SEC's new stance on meme coins impact the long-term viability of the US financial system, which relies heavily on trust and confidence in its regulatory framework?