SEC clarifies position on Meme Coins:
"Meme coins typically are purchased for entertainment, social interaction, and cultural purposes, and their value is driven primarily by market demand and speculation. In this regard, meme coins are akin to collectibles. Meme coins also typically have limited or no use or functionality."
Further: Meme Coins "do not involve the offer and sale of securities under the federal securities laws" but "fraudulent conduct related to the offer and sale of meme coins may be subject to enforcement action or prosecution by other federal or state agencies."
https://www.sec.gov/newsroom/speeches-statements/staff-statement-meme-coins #Crypto #CryptoCoins #MemeCoins #SEC #CryptoRegulation #cryptoasset