- Hester Peirce stated many meme coins fall outside SEC’s regulations.
- Peirce differs from Gensler’s previous view on crypto regulation.
- Meme coins like TRUMP experienced major volatility, resulting in investor losses.
Commissioner of the US Securities and Exchange Commission (SEC) Hester Peirce addressed the regulatory status of meme coins, saying many of these digital tokens likely do not fall under the SEC’s jurisdiction.
In an interview with Bloomberg, Peirce stated that many meme coins, including those flooding the market, lack the characteristics that would bring them under current SEC rules.
According to Peirce, “Many of the meme coins that are out there probably do not have a home in the SEC under our current set of regulations.If Congress wants to address, they can do that; maybe something that the CFTC wants to address, but many of those, I think, probably are not under our jurisdiction.”
She explained individuals should be allowed to invest in tokens without government interference but also should be prepared for the possibility that the value of such tokens might eventually drop. She said, “If people want to buy a token or product that …
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