<ul><li>SEC Commissioner Hester Peirce announced that the SEC will not provide regulatory protection in the memecoin space.</li><li>Peirce compared the memecoin trend to the NFT rise in 2021 when the SEC also clarified its non-intervention stance.</li><li>SEC's decision is based on the absence of clear regulatory guidelines, with a focus now shifting towards drafting well-defined regulations for crypto.</li><li>This marks a significant shift in the SEC's approach to emerging crypto assets, aiming to establish clearer frameworks rather than enforcing regulations in speculative sectors like memecoins.</li></ul>

SEC Steps Back from Memecoin Oversight, Says Commissioner Hester Peirce

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