Chair of the SEC's cryptocurrency working group Hester Peirce stated that meme coins do not fall under their jurisdiction.
The SEC commissioner responded to reporters' questions about whether the launch of meme coins by U.S. President Donald Trump and his wife Melania complicates her work. In response, Peirce said that many users launch meme coins, and they need to be considered.
In her opinion, if the U.S. Congress wants to address this issue, it can do so. Furthermore, the commissioner suggested that it might fall under the jurisdiction of the U.S. Commodity Futures Trading Commission.
Former chairman Gary Gensler has repeatedly stated that the overwhelming majority of cryptocurrencies fall into this category.
Hester Peirce described the approach to regulating the industry practiced under Gensler as not entirely correct. She emphasized that the SEC is trying to return to a path of using other tools to create a favorable policy for the industry.