Lawyer: Any meme coin projects involved in fraud could still face legal accountability at the federal or state level in the United States

Lawyer and Bain Capital Crypto's head of regulation and policy, Khurram Dara, posted on the X platform that the US SEC released guidance today on meme coins, clearly stating that "meme coins" are not securities but more like collectibles. This news has been interpreted by some market participants as a loosening of the SEC's regulatory stance on meme coins. However, Khurram Dara warns that the market should not over-interpret the SEC's "friendly" posture. The SEC statement only represents its corporate finance regulatory department's opinion and is limited to federal securities law level. More importantly, at the end of its guidance, the SEC emphasized that if issuance and sales of meme coins involve fraudulent activities they will still face enforcement actions and prosecutions from other federal or state agencies.