SEC says meme coins are not securities

The Security and Exchange Commission has issued Guidance Thursday says it does not see most meme currency, which is the Crypto Token, derived from Mems, as Security under the Federal Act of the United States.

As a result, the SEC has said that people who buy or retain the meme coin are protected by federal securities law and people who do not need to register their transactions with the commissions who take part in the meme coin offer and sale. “

The SEC’s new guidance came for about a month in the second term of US President Donald Trump, where Trump issued an executive order to create a government skill department, an independent government advisory agency led by Elon Mask, named after Mem Coin named Dogeken.

President Trump also launched a meme coin for his supporters, known as Trump just a few days before his inauguration. The currency has lost $ 12 billion worth of dollars since January 5th. The telegraph has reported Thursday.

SEC Chairman Mark Uida, appointed by Trump in January, had earlier indicated that he would create a clear regulatory line around the cryptocurrencies. On the first day of Uda in the office he announced a formation of a Cryptocurrency Task Force.

The SEC of Udar argues that the meme coins are not security in his view, because they “do not produce any yields or give the right to future income, profit or business assets.” Rather, the Commission says that it sees more meme coins like collection.

Thursday’s guidance SEC about meme currency represents a complete agreement compared to how the meme coin under his former chairman Gary Jenker. Repeatedly Crypto token including meme coins has been invited to consider as securityAnd Crypto services have asked the services to actively register with the SEC.

Also Thursday, SEC announced it Has dismissed its case against CoinbaseThe largest cryptocurrency exchange in the United States.

“Over the past several years, the opinions of the Commission related to Crypto have been originally published through the application of the general public without involve the general public,” Uida said in a statement. “Now is the time to revise its approach to the Commission and to develop the crypto policy in a more transparent manner.”