Editor's PiCK
US SEC: "Meme coins are not securities... they are a type of collectible"
Summary
- The U.S. SEC announced that meme coins are not securities but are similar to collectibles.
- Accordingly, meme coin transactions are not subject to federal securities laws and do not need to be registered with the SEC.
- However, the SEC clarified that fraudulent activities related to meme coins may be subject to enforcement actions by federal or state agencies.
The U.S. Securities and Exchange Commission (SEC) has issued guidelines regarding meme coins.
According to Fox Business reporter Eleanor Terrett on the 28th (local time), the SEC's Division of Corporation Finance stated in an announcement that "meme coins are not securities and are similar to collectibles."
According to the SEC guidelines, meme coin transactions do not involve the offering and sale of securities under federal securities laws, and participants in the issuance and sale of meme coins are not required to register with the SEC. Additionally, meme coin buyers and holders are not protected by securities laws. However, fraudulent offers and sales of meme coins may be subject to enforcement actions or prosecution by federal or state agencies.
Regarding this, reporter Terrett explained, "Last month, David Sacks, the White House's virtual asset (cryptocurrency) policy director, stated that Donald Trump's meme coin TRUMP is a collectible like baseball cards. The SEC has expressed a similar opinion."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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