SEC Denies Meme Coins Securities
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meme coin purchasersCNBC
•Business
Business & Economics
SEC says most meme coins are not securities

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Meme coins "typically have limited or no use or functionality" and are "more akin to collectibles," SEC says.
Agency: "A meme coin does not constitute any of the common financial instruments specifically enumerated in the definition of 'security' The clarification comes after a rapid rise of such cryptocurrencies following the election of President Donald Trump .
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