SEC Commissioner Hester Peirce States Meme Coins May Not Fall Under SEC Regulation

BlockBeats News, February 13th, SEC Commissioner Hester Peirce stated in an interview with Bloomberg that many Meme tokens may not fall under the SEC's regulatory purview as current regulations do not explicitly classify them as securities. She pointed out that if Congress or the Commodity Futures Trading Commission (CFTC) wanted to intervene, it would be their decision. Peirce believes that Meme tokens have no intrinsic value and are more like digital Beanie Babies or baseball cards. She stated: "If people are willing to buy tokens lacking long-term value, they are free to choose, but they should not be surprised by price volatility."