Odaily Planet Daily news - SEC Chairman Paul Atkins was questioned on May 20 at a congressional hearing regarding his stance on the Trump-related memecoin and transactions related to Sun Yuchen. Congressman Ivey pointed out that Sun Yuchen's company had purchased $30 million worth of World Liberty Financial tokens associated with Trump, and he was an invited guest at the presidential crypto dinner, raising concerns about potential conflicts of interest. Atkins responded that the Sun case is still under review, and the SEC currently does not consider memecoins to be securities, stating that it will promote transparency and rules-based crypto regulatory reform. (The Block)