Opinion: Lawyers believe the SEC's recent memecoin guidance signals a shift in cryptocurrency regulatory policy
BlockBeats reported on March 11, citing CoinDesk, that a lawyer from Gibson Dunn stated that the SEC's recently released memecoin guidance may imply that it will adjust its cryptocurrency regulatory policy, potentially even affecting the applicability of the Howey test.
The SEC previously issued a statement saying that memecoins should generally not be considered securities, as the funds of their purchasers are not concentrated on developing related projects, and their prices rely on market speculation and collective sentiment. This position contradicts the SEC's previous stance in lawsuits against cryptocurrency exchanges and may impact the trading of digital assets in all secondary markets. Analysts believe this move indicates that the SEC is gradually moving away from the strict regulatory approach of former Chairman Gary Gensler, bringing a clearer direction for cryptocurrency policy in the United States.