Reported about 11 hours ago
The U.S. Securities and Exchange Commission (SEC) staff announced that memecoins, speculative crypto assets often inspired by internet memes, should be viewed as collectibles rather than securities. This classification implies that sellers are not required to register with the SEC, leaving buyers without federal protections. The SEC highlighted the speculative nature and extreme market volatility of these assets, which are purchased mainly for entertainment and not for any fundamental value.
Source: YAHOO