美國證券交易委員會（Securities and Exchange Commission）於週四晚上發表了長期以來的指導，稱根據美國聯邦法律，大多數模因硬幣證券。

模因硬幣“通常具有有限或沒有用途或功能”，並且“更類似於收藏品”，

The Securities and Exchange Commission issued long-sought after guidance Thursday evening saying it does not deem most meme coins securities under U.S. federal law.

美國證券交易委員會（Securities and Exchange Commission）在周四晚上發表了長期以來的指導，稱其不認為大多數模因在美國聯邦法律下硬幣證券。

The agency's Division of Corporation Finance said in a statement that such coins "typically have limited or no use or functionality" and are "more akin to collectibles."

該機構的公司財務部在一份聲明中說，這種硬幣“通常具有有限或沒有用途或功能”，並且“更類似於收藏品”。

"It is the Division's view that transactions in the types of meme coins described in this statement do not involve the offer and sale of securities under the federal securities laws," the statement says. "Persons who participate in the offer and sale of meme coins do not need to register their transactions with the Commission. ... Accordingly, neither meme coin purchasers nor holders are protected by the federal securities laws."

聲明說：“該部門的觀點是，本聲明中描述的模因硬幣類型的交易不涉及根據聯邦證券法規定的證券的要約和銷售。” “參與Meme硬幣要約和銷售的人無需在委員會註冊其交易。相應地，Meme硬幣購買者和持有人都不受聯邦證券法的保護。”

It also said "a meme coin does not constitute any of the common financial instruments specifically enumerated in the definition of 'security' because, among other things, it does not generate a yield or convey rights to future income, profits, or assets of a business. In other words, a meme coin is not itself a security."

它還說：“模因硬幣並不構成在“安全”定義中特別列舉的任何普通金融文書，因為除其他外，它不會產生收益率或傳達企業的未來收入，利潤或資產的權利。換句話說，模因硬幣本身不是安全性。”

The clarification comes after the latest rapid rise of such cryptocurrencies following the election of President Donald Trump, as well as their crash in recent weeks. It's also another notch in the belt of the new administration, which has promised to create clearer and perhaps more favorable regulatory conditions for the crypto industry, and to do so swiftly.

澄清是在唐納德·特朗普總統當選之後的最新加密貨幣以及最近幾週崩潰之後的最新迅速崛起之後。這也是新政府帶來的另一個缺口，該檔案已承諾為加密行業創造更清晰，更有利的監管條件，並迅速這樣做。

"The SEC's recent statement on meme coins is the clarity that the digital asset space has been demanding for years," said Ishmael Green, a crypto attorney and partner at the law firm Diaz Reus. "This will drive continued investment in the U.S. crypto space, as the vast majority of meme coins launched in the last 12 months with multibillion dollar market caps have been released on Solana, an American blockchain."

加密律師律師事務所Diaz Reus的合夥人Ishmael Green說：“ SEC最近在Meme硬幣上發表了數字資產空間的要求。” “這將推動在美國加密貨幣領域的持續投資，因為過去12個月推出的絕大多數模因硬幣已在美國區塊鏈Solana上發布了數十億美元的市場上限。”

"[It] also comports with the current administration's promise to the crypto community to end needless and frivolous enforcement actions which stifle innovation and investment," he added.

他補充說：“ [它]還與當前政府對加密貨幣社區的承諾結束了不必要和輕率的執法行動，這扼殺了創新和投資。”

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Dogecoin, the original meme coin and sixth largest cryptocurrency by market cap, rose 3%. The token tied to Solana, which has become the go-to host for meme coins - including the Official Trump meme coin - rose 2%.

Dogecoin是最初的模因硬幣，也是市值第六大加密貨幣，增長了3％。與索拉納（Solana）相關的象徵，該索拉納（Solana）已成為模因硬幣的首選主持人 - 包括官方的特朗普模因硬幣 - 上漲了2％。

Shares of both Coinbase and Robinhood rose about 1% in after hours trading.

Coinbase和Robinhood的股票在下班後的交易中增長了約1％。

The clarity could pave the way for both exchange operators to list more meme coins without the risk of regulatory enforcement.

清晰度可以為兩家交換運營商列出更多模因硬幣的道路鋪平道路，而無需進行監管執行的風險。

In January, at the height of the Trump-fueled meme mania, Coinbase CEO Brian Armstrong said that "given there are [about 1 million] tokens a week being created now, and growing ... evaluating each one by one is no longer feasible," in a post on X. "And regulators need to understand that applying for approval for each one is totally infeasible at this point," he said.

在一月份，在特朗普燃料的模因躁狂症的高峰期，Coinbase首席執行官布萊恩·阿姆斯特朗（Brian Armstrong）說：“鑑於（現在有大約100萬個]的標記現在正在創建，並且正在成長……在X上不再可行。”在X上的帖子中。

Meme coins, of which there are thousands, sit at the furthest end of the risk spectrum. They're three to four times more actively traded than bitcoin and ether, adjusting for market cap, which makes them lucrative offerings for newcomers to the market who feel they may have missed the boat on bitcoin. Historically, they've been a gauge of retail interest and risk appetite in crypto, though most market participants warn strongly against them.

模因硬幣，其中數千個位於風險頻譜的最遠的端。它們的積極交易是比特幣和以太幣的三到四倍，調整了市值，這使他們為新移民提供了利潤豐厚的產品，他們認為他們可能會錯過比特幣上的船。從歷史上看，它們一直是加密貨幣中零售利益和風險食慾的量表，儘管大多數市場參與者都強烈警告他們。

Despite their purely speculative nature and lack of intrinsic value, they're widely viewed as a significant sector of the crypto market and an important part of internet culture that reflects the origins, culture and permissionless nature of the crypto community.

儘管它們純粹具有投機性和缺乏內在價值，但它們被廣泛認為是加密市場的重要部門，也是互聯網文化的重要組成部分，反映了加密貨幣社區的起源，文化和無許可性質。