美国SEC说，像Dogecoin和Shiba Inu这样的模因硬币不是地标转换的证券

The U.S. Securities and Exchange Commission (SEC) issued a landmark ruling declaring that meme coins, such as Dogecoin and Shiba Inu, are not securities. This significantly alters the regulatory landscape for the cryptocurrency industry.

美国证券交易委员会（SEC）发布了一项具有里程碑意义的裁决，宣布模因硬币（例如Dogecoin和Shiba Inu）不是证券。这大大改变了加密货币行业的监管格局。

In a February 27th statement, the SEC categorized meme coins as "akin to collectibles," distinguishing them from financial instruments subject to securities laws. The statement explicitly stated that a meme coin itself is not a security. The SEC cited their typical use for entertainment, social interaction, and cultural purposes, with value primarily driven by market demand and speculation. They further noted the generally limited or nonexistent functionality of meme coins.

在2月27日的一份声明中，SEC将模因硬币归类为“类似于收藏品”，将其与受证券法的金融工具区分开来。该声明明确指出，模因硬币本身不是安全性。 SEC引用了他们在娱乐，社会互动和文化目的中的典型用途，其价值主要由市场需求和投机驱动。他们进一步指出了模因硬币的通常有限或不存在的功能。

This decision reflects a broader shift in U.S. crypto regulation under the current administration, diverging from the previous enforcement-focused approach. The Kobeissi Letter, with over 756,000 X followers, described the announcement as "HUGE," highlighting its clarification of the legal implications surrounding meme coin launches.

这一决定反映了当前政府在美国加密货币法规方面的更广泛转变，与以前以执法为中心的方法不同。 Kobeissi的信件（超过756,000 X的追随者）称这一宣布为“巨大”，强调了其对Meme Coin发射的法律影响的澄清。

The SEC clarified that investors in meme coins lack the protections afforded by U.S. securities laws. However, the agency emphasized that fraudulent offers and sales of meme coins remain subject to enforcement action or prosecution by other federal or state agencies. By clarifying the non-security status of meme coins, the SEC reduces legal uncertainty for traders and developers, potentially stimulating innovation. One X user, "Batman," with 83,000 followers, predicted a "massive bull cycle," acknowledging current market weakness but expressing long-term optimism.

SEC澄清说，模因硬币的投资者缺乏美国证券法所提供的保护。但是，该机构强调说，欺诈性的欺诈性和销售模因硬币仍然受到其他联邦或州机构起诉的执行行动或起诉的约束。通过阐明模因硬币的非安全状况，SEC减少了交易者和开发商的法律不确定性，可能会刺激创新。一个X用户“蝙蝠侠”，有83,000名追随者，预测了一个“大型牛周期”，承认当前的市场疲软，但表达了长期乐观的态度。

Conversely, the lack of SEC oversight underscores the need for investor caution in the meme coin market, as consumer protections are currently absent.

相反，由于目前没有消费者的保护，因此缺乏SEC监督强调了在模因硬币市场中对投资者谨慎的需求。

New Meme Coin Legislation

新的模因硬币立法

While the SEC's ruling clarifies the non-security status of meme coins, House Democrats have introduced the Modern Emoluments and Malfeasance Enforcement (MEME) Act. This bill, sponsored by California Representative Sam Liccardo, aims to prevent federal officials from issuing, sponsoring, or promoting digital assets, including meme coins, with significant criminal and civil penalties. This follows the controversial launch and subsequent price drop of the Official Trump (TRUMP) token.

尽管美国证券交易委员会的裁决阐明了模因硬币的非安全地位，但众议院民主党人介绍了现代的埃默尔和渎职执法（MEME）法案。加州代表Sam Liccardo赞助的该法案旨在防止联邦官员发行，赞助或促进包括Meme Coins在内的数字资产，并受到重大刑事和民事处罚。这是在有争议的推出和随后的特朗普官方（特朗普）代币的价格下跌之后。

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