SEC Chairman Testifies in Congressional Hearing Regarding Trump Meme Coin and Sun Yuchen's Involvement

SEC Chairman Paul Atkins was questioned on May 20 during a congressional hearing about his stance on the Trump-related memecoin and transactions linked to Sun Yuchen. Congressman Ivey pointed out that Sun's company had purchased $30 million worth of World Liberty Financial tokens related to Trump and that he was an invited guest at the presidential crypto dinner, raising concerns about potential conflicts of interest. Atkins responded that the Sun case is still being handled, the SEC currently does not classify memecoins as securities, and stated that it will promote transparent, rules-based cryptocurrency regulatory reform.$TRX