SEC Cryptocurrency Task Force Chair Hester Peirce said memecoins do not fall under their jurisdiction.
The SEC commissioner responded to a question from reporters about whether the launch of memecoins by US President Donald Trump and his wife Melania complicates her job. In response, Pierce said that many users are launching memecoins, and they should be considered.
In her opinion, if the US Congress wants to address this issue, it can do so. In addition, the commissioner suggested that it might be the responsibility of the US Commodity Futures Trading Commission.
In January, Pierce became the head of the SEC's cryptocurrency task force, and one of the group's priorities was to classify which digital assets should be considered securities.
Former Commissioner Gary Gensler has repeatedly stated that the vast majority of cryptocurrencies fall into this category. This is one of the reasons why, under his leadership, the SEC took enforcement actions against some of the industry's largest players, such as Binance .
Hester Peirce called the approach to regulating the industry under Gensler not entirely correct. She emphasized that the SEC is trying to return to the path of using other tools to create favorable policies for the industry.
