US SEC Says Meme Coins Like Dogecoin And Shiba Inu Are Not Securities In Landmark Shift For Crypto
The US Securities and Exchange Commission (SEC) said that meme coins like Dogecoin and Shiba Inu are not securities, marking a landmark regulatory shift for the crypto industry. The agency’s decision, outlined in a Feb. 27 statement, says meme coins are “akin to collectibles” rather than financial instruments subject to securities laws. “A meme coin is not itself a security,” the regulator said in a statement. ”Meme coins typically are purchased for entertainment, social interaction, and cultural purposes, and their value is driven primarily by market demand and speculation. In this regard, meme coins are akin to collectibles. Meme coins also typically have limited or no use or functionality.” The SEC’s guidance highlights a broader shift in US crypto regulation under the pro-crypto Trump administration, marking a departure from the regulation-by-enforcement approach of former chair Gary Gensler. “This is HUGE,” said The Ko...