#MEMEAct "As part of an effort to clarify the application of federal securities laws to crypto assets, the Division of Corporate Finance presents its perspective on "meme coins". A "meme coin" is a type of crypto asset inspired by memes, characters, current events, or internet trends, whose promoter seeks to attract an enthusiastic online community to buy and participate in its exchange. While each meme coin may have unique characteristics, they generally share certain features. They are often acquired for entertainment, social interaction, and cultural purposes, and their value is primarily based on market demand and speculation. In this sense, meme coins are similar to collectibles. Additionally, they tend to have limited or no use or functionality. Given their speculative nature, they tend to experience significant volatility in their market prices and are often accompanied by statements about their risks and lack of utility, except for entertainment purposes or other non-functional purposes."

(Taken from the web)