SEC says memecoins are not securities (opens in new tab)

(cnbc.com)

17 pointsjhunter10161y ago7 comments

7 comments

Sad. Of course they're saying that. Crypto has bought the whole government.

As someone who has worked in the crypto industry, it's insane that they're allowed to continue to do this. It's all scams, rug pulls, unregistered securities, insider trading, etc.

actionfromafar1y ago

So it turns out, not everything is securities fraud. Or perhaps more correctly, fraud is legal now. (As well as bribing foreign officials.)

jbreckmckye1y ago

From your perspective inside the industry (or formerly inside), what do you see happening long term?

Will there be sufficient incentives for good actors and do consumers understand the risk of unregulated investments?

EGreg1y ago

https://community.intercoin.app/t/sec-declares-memecoins-are...

duxup1y ago

Considering the Trump profited from his own meme coin this just seems like more cronyism / self dealing and so forth …

Meme coins seem like the perfect bribery system.

tencentshill1y ago

As they're now classified as novelty collectibles, is there any precedent for bribery with speculative items like that?

whateveracct1y ago

if there isn't, it's probably because collectibles don't have the ergonomics for bribery that meme coins do. so i'd don't see why precedent is needed here - just because meme coins are deemed collectibles doesn't change how they work. just how they're regulated.

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