SEC says most meme coins are not securities

"[It] also comports with the current administration's promise to the crypto community to end needless and frivolous enforcement actions which stifle innovation and investment," he added.
Dogecoin, the original meme coin and sixth largest cryptocurrency by market cap, rose 3%. The token tied to Solana, which has become the go-to host for meme coins – including the Official Trump meme coin – rose 2%.
Shares of both Coinbase and Robinhood rose about 1% in after hours trading.
The clarity could pave the way for both exchange operators to list more meme coins without the risk of regulatory enforcement.
In January, at the height of the Trump-fueled meme mania, Coinbase CEO Brian Armstrong said that "given there are [about 1 million] tokens a week being created now, and growing ... evaluating each one by one is no longer feasible," in a post on X. "And regulators need to understand that applying for approval for each one is totally infeasible at this point," he said.
Meme coins, of which there are thousands, sit at the furthest end of the risk spectrum. They're three to four times more actively traded than bitcoin and ether, adjusting for market cap, which makes them lucrative offerings for newcomers to the market who feel they may have missed the boat on bitcoin. Historically, they've been a gauge of retail interest and risk appetite in crypto, though most market participants warn strongly against them.
Despite their purely speculative nature and lack of intrinsic value, they're widely viewed as a significant sector of the crypto market and an important part of internet culture that reflects the origins, culture and permissionless nature of the crypto community.