Commissioner Hester Pierce: Memecoin investors 'should not expect protection from the SEC'

SEC Commissioner Hester Peirce warned that memecoin investors should not expect protection from the SEC if they lose money. In an interview with CNBC, she emphasized that memecoins largely fall outside the SEC’s regulatory purview and are not considered securities under current law. She also suggested that the Commodity Futures Trading Commission (CFTC) may be better suited to oversee this type of asset.

At the Bitcoin 2025 event, Peirce noted that while many things can be structured as securities transactions, most memecoins do not meet that criteria. She compared the excitement around memecoins to NFTs, as both lose value after the initial frenzy subsides. Peirce's views align with those of the White House's "cryptocurrency envoy" David Sacks, who argued that memecoins should be seen as collectibles, not regulated investment assets.