Скачать или смотреть SEC: Memecoins are NOT securities, buyer beware

The SEC issued a staff statement on memecoins in which they clarified that they treat memecoins as collectibles, not securities. Since they are purchased primarily for entertainment, social interaction, and cultural purposes, and because their value is driven primarily by market demand and speculation, they are not considered securities. They are speculative with significant price volatility and so the SEC doesn't consider them a security under securities law. As such, don't expect any protection from regulators.

This confirms what most people know about memecoins - it's volatile, has no intrinsic value, and if you want to make money, you're going to find someone willing to pay you more than what you paid yourself. Also, if there is a rug pull, you're on your own.

It's an important clarification and one that's overdue. Memecoins are not investments, it's straight gambling, and the SEC statement confirms it.

This is separate from how the IRS treats cryptocurrencies, which include memecoins. The IRS treats them as digital assets, taxed similarly to property, so you will need to pay capital gains taxes on any transactions. This is better than treating them as collectibles because collectible tax rates can be higher.

ABOUT ME

I first learned about money when working as a software engineer for a defense contractor. I would blog about my experiences as a side hustle which ultimately became my main career. I now write about money at WalletHacks.com and as a contributor to Forbes.

DISCLAIMER: I am not a financial adviser. I create these videos for entertainment and educational purposes only, please do your own research. These are just my personal opinions and is not financial or investment advice.

AFFILIATE DISCLOSURE: Some of the links we share are affiliate links, meaning we may earn a commission if you click through but this comes at no cost to you. Also, I only recommend services or products that I believe in or use myself.