Meme Coins Like Solana’s TRUMP Probably Not Under SEC Jurisdiction: Hester Peirce

The head of the new Crypto Task Force of the Securities and Exchange Commission said that Meme -coins will probably not fall Under the jurisdiction of the watchdog.

In an interview with Bloomberg On Tuesday, SEC commissioner Hester Peirce was asked about President Donald Trump and the official meme coins of his wife, Trump and Melania, and whether such cryptocurrencies would fall under the jurisdiction of the agency.

The Newly appointed Boss of the Sec’s Crypto Task Force said that such assets probably won’t. President Donald Trump launched His own Solana-based meme token, TrumpPrior to his inauguration of January 20, with Melania Trump followed with her own coin shortly thereafter.

“There are currently many people who introduce meme coins,” said Peirce. “But many of the meme coins that exist probably have no house in the SEC under our current set of regulations.”

The SEC did not respond immediately Decryptask.

Meme coins are cryptocurrencies based on internet jokes and subcultures, public figures and more. Such assets are quickly beaten in a flash and can shoot in value, but can also crash just as quickly. Some traders make phenomenal profit They buy and sell, but others can lose large if they suddenly become worthless.

Trump shot up to a high above $ 73 the day before the president’s inauguration, but has since fallen dramatically in value. The price is now $ 15.42, a decrease of almost 80% compared to that record marking, Coingecko to show.

Commissioner Peirce said last week that the regulator worked hard to decide which cryptocurrencies actually had to be considered as effects and a different approach opted for the way of the previous administration to regulate space.

Under President Joe Biden was the sec Tough on the crypto roomWith his former chairman Gary Gary Gary, who often suits large crypto companies for selling non-registered effects.

Commissioner Peirce – who earned the nickname “Crypto Mom” ​​for her friendly approach to the space despite the earlier actions of the SEC – is expected to be less hostile to companies in industry, especially as President Donald Trump promised To help the space flourish.

Despite the alias of Commissioner Peirce, she said in Tuesday’s interview that she would not describe herself as an advocate of industry, but rather as a ‘freedom maximist’.

“Looking at what has happened to Crypto in recent years has just been extremely frustrating for someone who believes that the government is there to serve the American people, not to hinder them if they try new things,” she added Toe.

Edited by Andrew Hayward