🚀SEC Declares Meme Coins Are Not Securities + Drops Case Against Coinbase

SEC Declares Meme Coins Are Not Securities but Warns of Fraud Risks

The SEC’s Division of Corporation Finance has stated that meme coins do not qualify as securities under U.S. federal law, meaning their offer and sale do not require SEC registration. The agency determined that meme coins lack investment contracts, managerial oversight, or profit expectations tied to an enterprise, making them akin to collectibles driven purely by speculation and market sentiment.

However, the SEC warned that fraudulent activities involving meme coins could still face legal action from federal or state authorities. The statement does not apply to projects misusing the “meme coin” label to evade securities regulations.

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SEC Drops Case Against Coinbase Amid Plans for Clearer Crypto Regulations

The SEC has dismissed its enforcement action against Coinbase Inc. and Coinbase Global Inc., citing the work of its newly formed Crypto Task Force, which aims to establish a clearer regulatory framework for crypto assets. Acting Chairman Mark T. Uyeda acknowledged that past SEC crypto policies were driven by enforcement rather than public engagement and emphasized the need for transparency.

The SEC clarified that the dismissal does not reflect an opinion on the merits of the case but is part of broader regulatory reforms. Meanwhile, the agency’s Cyber and Emerging Technologies Unit will continue targeting fraud in blockchain and crypto markets.

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Uniswap Partners With Robinhood and Payment Platforms for Crypto-to-Fiat Transactions

Uniswap has teamed up with Robinhood, MoonPay, and Transak to enable crypto-to-fiat transactions in over 180 countries, allowing users to convert crypto into cash directly through their bank accounts. The feature is live on the Uniswap wallet for Android and iOS, with support for the Uniswap extension and web app coming soon.

This announcement follows the SEC dropping its investigations into both Uniswap Labs and Robinhood’s crypto division. Despite the news, Uniswap’s native token, UNI, saw a price drop amid broader market declines. The DEX currently holds $4.2 billion in total value locked, down from its 2021 peak of $10 billion.

Bybit Hackers Launder Over $480M in ETH via Bitcoin and ThorChain

The hackers behind the Bybit breach have moved at least 209,384 ETH (~$480 million) onto Bitcoin, with $240 million laundered through ThorChain, according to MetaMask’s Head of Security. The FBI confirmed North Korea’s Lazarus Group was behind the attack, which drained over $1.5 billion in crypto.

ThorChain saw record trading volumes as Lazarus used it for laundering, sparking internal debate on whether validators should block stolen funds. Some attempted to halt transactions, but the decentralized nature of ThorChain made enforcement difficult. Meanwhile, Bybit is offering bounties for help recovering the stolen funds.

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