Law & Policy

hot off the press: memecoins are not securities

hot off the press: memecoins are not securities

https://www.sec.gov/newsroom/speeches-statements/staff-statement-meme-coins

janitor@ /middle-mgmt // inquiring in /inquiry // web3 law stuff // f̶r̶e̶e̶ ̶R̶o̶s̶s̶ // free Assange // ☮︎ Ξ ✧

lovelight.eth.limo

not lawyers at least. this statement is consistent with the legal community’s existing Howey interpretation of memecoins.

that said, the industry went through a very long period of arbitrary enforcement, so just because a company’s legal position was sound didn’t necessarily protect them from regulatory harassment. it’s nice to get the gov’t on record.

Genuine question, did anyone think they were? 

I thought that was why ppl traded them so heavily. They had no utility so they couldn't be a security

They're not.
And they can't be when there are thousands of them launched everyday on pumpfun.