According to the SEC, the coins are more akin to "collectibles" and don't fall under the category of securities under federal law.

The Securities and Exchange Commission issued guidance on Thursday saying it does not view most meme coins, which are crypto tokens that originated from

Meme coins may not fall under the purview of the United States Securities and Exchange Commission, as the agency considers most meme coins to be more like collectables than securities. According to a February 27 staff statement from the commission’s Division of Corporation Finance,