Hester Peirce Suggests TRUMP Coin Likely Doesn’t Fall Under SEC Jurisdiction Amid Evolving Crypto Regulations
The post Hester Peirce Suggests TRUMP Coin Likely Doesn’t Fall Under SEC Jurisdiction Amid Evolving Crypto Regulations appeared on BitcoinEthereumNews.com.
SEC Commissioner Hester Peirce recently indicated that many meme coins likely do not fall under the regulator’s jurisdiction, shedding light on the evolving crypto landscape. This statement comes in the wake of new meme coin launches tied to high-profile figures, such as President Donald Trump and Melania Trump, stirring public interest and debate. “There are lots of people introducing meme coins right now,” Peirce noted, further emphasizing the complexities surrounding regulatory measures for such cryptocurrencies. SEC’s Hester Peirce clarifies that many meme coins may not be regulated, spotlighting a new era of cryptocurrency and its implications for investors. SEC’s Stance on Meme Coins: A New Perspective In a recent interview with Bloomberg, Hester Peirce, the newly appointed head of the SEC’s crypto task force, expressed her views regarding the status of meme coins within the regulatory framework. While discussing the official meme coins TRUMP and MELANIA, she conveyed that these tokens, which have gained notoriety due to their links with public figures, likely do not require oversight by the SEC. The Rapid Rise and Fall of Meme Coins Meme coins are defined as cryptocurrencies that emerge from internet phenomena, often characterized by their whimsical nature and unpredictable trading behaviors. For instance, the TRUMP token saw a dramatic surge in value, reaching highs above $73 shortly before the inauguration, only to experience a sharp decline to approximately $15.42—marking a near 80% drop. Such volatility exemplifies the risky nature of meme coins, which can generate enormous returns but equally significant losses. Regulatory Changes Under the New Administration Commissioner Peirce’s comments signal a potential shift in the SEC’s approach to cryptocurrency regulation. During the Biden administration, there was a notable crackdown on digital assets, with former SEC Chair Gary Gensler spearheading efforts to bring more coins under the securities umbrella. However, Peirce is…
Filed under: News - @ February 11, 2025 11:18 pm