PANews reported on February 12 that according to The Block, Hester Peirce, a member of the U.S. Securities and Exchange Commission (SEC), said in an interview with Bloomberg that many Memecoins currently on the market may not fall within the scope of SEC regulation. She pointed out that the specific situation depends on the characteristics of individual tokens, but under current regulations, the SEC may not have the authority to regulate most Memecoins.

Peirce's SEC crypto task force is working to clarify which tokens can be considered "non-securities" to reduce regulatory uncertainty. This statement contrasts with the position of former SEC Chairman Gary Gensler that "the vast majority of crypto assets are securities."

Although the Memecoin market is expected to grow 500% to $120 billion in 2024, and President Trump has even launched his own Memecoin, there are still risks of fraud and "pump and dump" in the market. Recently, an investor has filed a class action lawsuit against the Memecoin platform pump.fun, accusing it of violating securities laws.