Zach
@zd
Meme coins are not securities, according to the SEC https://www.sec.gov/newsroom/speeches-statements/staff-statement-meme-coins
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Matthew
@matthew
My assumption based on this (and some crack chatGPT 3o analysis) is that memecoins which share trading rewards with holders of the coin are securities
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McBain
@mcbain
Yes, the howey test still matters
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Zach
@zd
Correct - I had this discussion with my lawyer today The creator claiming trading fees from a Uniswap pool is fine Automatically distributing those same fees to everyone who holds the token is not fine (Ofc the creator could claim all fees + share them with community members manually, but that's a different story)
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