In some big news the new head of the SEC has now said that MEME coins are not under SEC oversight. This means that for example the TRUMP meme coin does not full under the jurisdiction of the SEC according to the commissioner hester peirce.
Reports are coming out so far that people have lost over 2 billion dollars from the Trump meme coin.
Now the thing is even though the TRUMP coin and other meme coins don't fall under the regulation of the SEC there are other arms of the government it could and should fall under and that would be the CFTC Commodity future trading commission.
This is because meme coins more so fall under the category of collectables and not a store of value etc. I question this a bit as that seems a bit weird honestly.
With this ruling however we will most likely only see more of a wild crazy amount of meme coins come out as people who create them try to rake in tons of money.