The headline currently shown here "SEC Declares Memecoins Are Not Subject to Oversight" is wrong, which is throwing discussions off here. The actual decision i

The headline currently shown here "SEC Declares Memecoins Are Not Subject to Oversight" is wrong, which is throwing discussions off here. The actual decision is that memecoins are not "Securities", and therefor not subject to regulations that apply to Securities. This makes a lot of sense. If you pick up a cool rock off the ground, and just sell it to someone, it's not a security. If people are buying and selling wheat, it doesn't make wheat a security. As skybrian said, the US test for a security is the Howely test. * It is an investment of money * There is an expectation of profits from the investment * The investment of money is in a common enterprise * Any profit comes from the efforts of a promoter or third-party Memecoins don't fit it at all.