SEC Commissioner Against Cryptocurrency: The Value of SEC's Guidance on Meme Coin is Doubtful

In response to the guidance issued by the US Securities and Exchange Commission (SEC) regarding Meme, which states that "Meme does not belong to securities," SEC commissioner and crypto skeptic Caroline Crenshaw posted on the SEC's official website that the purpose of SEC staff providing written guidance is to promote understanding and compliance with federal securities laws, and the guidance issued by the SEC completely overturns this concept, proposing an incomplete and unfounded legal viewpoint that the entire product category is not within the jurisdiction of the SEC; This guide does not provide a clear legal definition, nor even a basic dictionary. The lack of useful definitions alone makes the value of this guide questionable, unless it serves as a roadmap for cryptocurrency companies to evade supervision by labeling themselves as Meme coins. This guide is not a reasonable interpretation of existing laws. It raises more questions than it answers, namely what is Meme coin and whether Meme coin is a definable or useful classification under existing securities laws. It boils down to a broad statement of general principles with little clarity or predictability for any given currency.