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res ipsa ☺︎
@resipsa
hot off the press: memecoins are not securities https://www.sec.gov/newsroom/speeches-statements/staff-statement-meme-coins
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Oliver
@timewarp
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
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res ipsa ☺︎
@resipsa
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.
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