US SEC: Meme coins are not securities...fraudulent coins will be regulated

The U.S. Securities and Exchange Commission (SEC) has clarified that meme coins are not securities, but emphasized that meme coins issued with fraudulent intent are subject to regulation.
According to the report, the SEC stated that "meme coin transactions do not constitute an offer or sale of securities under the securities laws" and are "more akin to collectibles."
It went on to warn that "while meme coin purchasers and holders are not protected by securities laws, those who issue or sell meme coins with fraudulent intent may be subject to prosecution."
The SEC added that its decision is "part of an effort to clarify whether virtual assets qualify as securities."