Hester Peirce, head of the U.S. Securities and Exchange Commission’s (SEC) cryptocurrency task force, said Wednesday that most meme coins flooding the cryptocurrency market may be out of the agency’s jurisdiction.
What happened: During an interview with Bloomberg, Pierce was asked whether meme coin launches by President Donald Trump and First Lady Melania Trump made the SEC’s oversight of the cryptocurrency industry difficult.
“We always have to look at the facts and circumstances, but many of the meme coins that are out there probably do not have a home in the SEC on our current set of regulations,” the SEC Commissioner replied.