UN says 80,000 children face cholera risk in West and Central Africa
An estimated 80,000 children are vulnerable to cholera in West and Central Africa amid ongoing outbreaks and the onset of heavy rains, according to th...
The Securities and Exchange Commission (SEC) has announced that meme coins are not considered securities and are therefore exempt from the federal laws governing financial instruments.
In its official statement, the agency compared meme coins to collectibles, noting that their value is derived primarily from speculative trading and the collective sentiment of the market.
According to the SEC, meme coins do not generate a yield or confer rights to future income, profits, or assets of a business. As a result, transactions involving these crypto assets do not meet the definition of investment contracts and are not subject to the registration requirements mandated by the Securities Act. While buyers of meme coins do not benefit from the protections provided by securities laws, any fraudulent transactions involving these assets could still be pursued under other federal or state statutes.
The SEC further explained that, for a crypto asset to be classified as a meme coin, it must be inspired by internet memes, characters, current events, or trends and primarily purchased for entertainment, social interaction, or cultural purposes. Meme coins are characterized by limited or no use or functionality and tend to experience significant market price volatility. However, the commission warned that crypto assets labeled as meme coins in an effort to evade regulation would still be considered securities if they do not fit this definition.
This decision aligns with the SEC’s recent shift toward a more accommodating stance on cryptocurrency. Earlier this month, the commission concluded an enforcement case against Coinbase over allegations of operating an unregistered securities exchange and dropped an investigation into Robinhood’s crypto listings and sales, reflecting a broader regulatory trend under the current administration.
The SEC stated that while it will not regulate meme coins as securities, it remains committed to evaluating the economic realities of transactions involving these assets. The agency’s approach underscores the evolving landscape of digital asset regulation as lawmakers and regulators continue to grapple with the rapid innovation and market dynamics of the crypto industry.
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Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Scientists have discovered thriving animal communities living off chemicals, not sunlight, at record depths in the Pacific Ocean’s Kuril-Kamchatka and Aleutian trenches.
Voice actors across Europe are sounding the alarm over the rise of artificial intelligence in the dubbing industry, warning that the use of AI-generated voices could jeopardize jobs, creative quality, and intellectual property rights.
Meta has announced it will halt political, electoral, and social issue ads in the European Union from October due to the region's new Transparency and Targeting of Political Advertising regulation (TTPA).
A team from the Royal Melbourne Institute of Technology (RMIT) has developed a titanium alloy using 3D printing that is significantly cheaper and potentially more efficient than the widely used Ti-6Al-4V alloy.
Scientists warn the world’s oceans may have entered a new, hotter phase with serious consequences for the planet.
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