SEC Commissioner dissents on SEC's stance on memecoins, potential regulations expected

From Cointelegraph

February 28, 2025 1:51:19 pm:

US Securities and Exchange Commission Commissioner Caroline Crenshaw dissented on the SEC’s stance that memecoins aren’t securities. She argued that most cryptocurrencies could be considered memecoins under the SEC’s recent guidance. Memecoins face scrutiny due to scams, hacks, and presidential launches that threaten long-term viability.

US regulators and lawmakers are taking action against memecoins following President Trump’s memecoin launch. Democrat lawmakers are calling for investigations into potential ethics violations surrounding the presidential token. House Democrats are preparing a bill to ban presidential memecoins, titled “The Modern Emoluments and Malfeasance Enforcement (MEME) Act.”

Attorney Elizabeth Davis, former chief attorney at the CFTC, believes memecoins should be regulated by the CFTC. She argues that if the commodities regulator oversees crypto, memecoins will likely fall under their purview. Davis is confident that comprehensive memecoin regulations will be established in the US within the next year, ending regulatory ambiguity.

Read more at Cointelegraph: SEC Commissioner dissents on agency’s memecoin stance