PANews reported on May 21 that according to The Block, SEC Chairman Paul Atkins was questioned at a congressional hearing on May 20 about his position on Trump-related memecoin and Sun Yuchen's transactions. Congressman Ivey pointed out that Sun Yuchen's company had purchased $30 million of World Liberty Financial tokens related to Trump, and he was an invited guest at the President's crypto dinner, raising concerns about potential conflicts of interest. Atkins responded that Sun's case is still being processed, and the SEC currently believes that memecoin is not a security, and said it will promote transparent and rule-oriented crypto regulatory reforms.

Chairman of the U.S. SEC: Promote the SEC's regulatory transparency and accountability mechanism in the crypto field, and avoid excessive regulation when formulating rules .