- Hester Peirce suggests many meme coins don’t fit within SEC rules.
- She criticizes the SEC’s approach to crypto, calling for policies that encourage innovation.
- Meme coin market drops 1%, with Dogwifhat (WIF) and Pengu (PENGU) leading losses.
- Uncertainty remains on whether Congress or the CFTC will step in to regulate meme coins.
SEC Commissioner Hester Peirce has weighed in on the growing meme coin trend, stating that many of these digital assets may not even fall under the SEC’s jurisdiction based on current regulations.
🇺🇸 NEW: SEC Crypto Task Force head Hester Pierce says, “Many of the memecoins that are out there probably do not have a home in the SEC under our current set of regulations.” pic.twitter.com/vLx69yBb9j
— Cointelegraph (@Cointelegraph) February 12, 2025
Speaking in an interview with Bloomberg, Peirce was asked whether high-profile figures—like President Donald Trump and First Lady Melania Trump, who have both been linked to meme coins—make it harder for the SEC to regulate the space.
Her response? The SEC may not have much authority here in the first place.
“Facts and circumstances matter,” Peirce explained. “But many of the meme coins out there probably do not have a home in the SEC under our current set of regulations.”
She suggested that Congress or the Commodity Futures Trading Commission (CFTC) might have a bigger role to play in overseeing these digital assets.
Meme Coins = Digital Collectibles?
Nate Geraci, president of the ETF Store, echoed Peirce’s thoughts, arguing that meme coins should be considered more like collectibles than securities.
“Meme coins [are] more akin to collectibles, IMO,” Geraci posted on X (formerly Twitter).
SEC Commissioner Hester Peirce was just tapped to run the crypto task force at the SEC and that's so insanely bullish
— Zack Guzmán (@zGuz) January 21, 2025
When I interviewed her last month, she predicted three things would happen under a pro-crypto SEC
This was the first, the others are even better for crypto🧵 pic.twitter.com/QH45k1oPjB
Despite being known as “Crypto Mom” for her relatively open stance on digital assets, Peirce made it clear she’s not necessarily advocating for the crypto industry. Instead, she sees herself as a “freedom maximalist”, pushing for fewer government restrictions on innovation.
SEC Commissioner Hester Peirce says “many of the memecoins that are out there probably DO NOT have a home in the SEC under our current set of regulations”…
— Nate Geraci (@NateGeraci) February 11, 2025
Makes sense to me. Memecoins more akin to collectibles IMO.
via @crypto pic.twitter.com/NoWfjiUGHC
She also took a jab at the SEC’s handling of crypto regulations, arguing that the agency has created unnecessary roadblocks instead of working with the industry.
“The government should serve the American people, not stifle their efforts to innovate,” Peirce added.
Meme Coin Market Sees Red as Uncertainty Looms
Meanwhile, the meme coin market dipped by 1% following Peirce’s remarks, bringing the total market cap down to $75.6 billion.
Top meme coins facing losses today:
- Dogwifhat (WIF) and Pengu (PENGU) led the drop.
- The entire top 10 meme coins registered declines.
Many celebrity-backed meme coins have also struggled in recent weeks. Analysts suggest that investors are shifting focus toward projects with real-world utility instead of hype-driven assets.
With no clear regulatory framework in place, the fate of meme coins remains uncertain. Whether Congress, the SEC, or the CFTC takes action next could determine where this market heads in 2025.
🚀 or 📉? Stay tuned.
