SEC’s Uyeda Says Memecoins Are Not Securities

Krutika Adani

SEC Softens Tone on Memecoins

Mark Uyeda confirms: memecoins, PoW tokens, and some stablecoins don’t meet the “security” test under SEC law.

No Investment Contract = No Security

Uyeda says assets like DOGE don’t involve buyer contracts—so they fail the Howey Test, which defines securities.

DOGE ETF: 50/50 Odds This Year

Memecoin ETFs, especially DOGE, are under review. Polymarket predicts 50% odds for approval by year-end, 25% by July.

SEC Wants Principle-Based Rules

Uyeda pushes for flexible, crypto-native frameworks, informed by public roundtables and staff guidance.

A Regulatory Turning Point?

With memecoins gaining legitimacy, and DOGE ETFs on the radar, the SEC may finally be evolving with crypto.

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