4 months ago
US Securities and Exchange Commission (SEC) Commissioner Hester Peirce has acknowledged that the fiscal regulator whitethorn not person the authorization to modulate astir memecoins.
In a Feb. 11 Bloomberg interview, the fiscal regulator pointed retired that existent laws bash not classify these tokens arsenic securities, leaving a spread successful oversight.
According to her:
“There are tons of radical introducing memecoins close present [and] facts and circumstances matter. But galore of the memecoins that are retired determination astir apt bash not person a location successful the SEC nether our existent acceptable of regulations.”
Peirce suggested that Congress whitethorn request to present authorities to clarify the regulatory landscape. She besides noted that the Commodity Futures Trading Commission (CFTC) could oversee these assets.
Collectibles?
White House crypto advisor David Sacks suggested that memecoins should beryllium classified arsenic collectibles alternatively than fiscal securities.
According to him, these assets deduce their worth from marketplace sentiment alternatively than concern contracts.
He noted:
“[Memecoins are] collectibles. It’s similar a shot paper oregon a stamp. People bargain it due to the fact that they privation to commemorate something.”
ETF Store President Nate Geraci echoed this sentiment, arguing that memecoins bash not autumn nether the SEC’s securities definition. He besides likened the assets to integer collectibles.
Geraci said:
“Memecoins [are] much akin to collectibles IMO.”
Rising memecoin interest
Over the past year, memecoins person surged successful popularity contempt their speculative nature. Often inspired by net civilization oregon nationalist figures, these tokens seldom committedness immoderate intrinsic value.
The popularity of these assets is evidenced by the information that US President Donald Trump and his wife, Melania, person each launched their memecoin. More recently, the Central African Republic besides issued its own token, CAR, connected the Solana-based Pump.fun platform.
Due to this, crypto influencer Ansem believes memecoins volition stay a cardinal portion of the integer plus space. He emphasized that societal trends and net virality substance their popularity.
He added:
“Memecoins volition ne'er dice due to the fact that societal trends & virality online are specified ample drivers of attraction for the cohort of radical trading these markets – truthful volition ever person their ain sector.”
The station CFTC not SEC could modulate memecoins successful US – Commissioner Hester Peirce says appeared archetypal connected CryptoSlate.
English (US) 