美国证券交易委员会（Securities and Exchange Commission）于周四晚上发表了长期以来的指导，称根据美国联邦法律，大多数模因硬币证券。

模因硬币“通常具有有限或没有用途或功能”，并且“更类似于收藏品”，

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.

美国证券交易委员会（Securities and Exchange Commission）在周四晚上发表了长期以来的指导，称其不认为大多数模因在美国联邦法律下硬币证券。

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."

该机构的公司财务部在一份声明中说，这种硬币“通常具有有限或没有用途或功能”，并且“更类似于收藏品”。

"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."

声明说：“该部门的观点是，本声明中描述的模因硬币类型的交易不涉及根据联邦证券法规定的证券的要约和销售。” “参与Meme硬币要约和销售的人无需在委员会注册其交易。相应地，Meme硬币购买者和持有人都不受联邦证券法的保护。”

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."

它还说：“模因硬币并不构成在“安全”定义中特别列举的任何普通金融文书，因为除其他外，它不会产生收益率或传达企业的未来收入，利润或资产的权利。换句话说，模因硬币本身不是安全性。”

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.

澄清是在唐纳德·特朗普总统当选之后的最新加密货币以及最近几周崩溃之后的最新迅速崛起之后。这也是新政府带来的另一个缺口，该档案已承诺为加密行业创造更清晰，更有利的监管条件，并迅速这样做。

"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."

加密律师律师事务所Diaz Reus的合伙人Ishmael Green说：“ SEC最近在Meme硬币上发表了数字资产空间的要求。” “这将推动在美国加密货币领域的持续投资，因为过去12个月推出的绝大多数模因硬币已在美国区块链Solana上发布了数十亿美元的市场上限。”

"[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.

他补充说：“ [它]还与当前政府对加密货币社区的承诺结束了不必要和轻率的执法行动，这扼杀了创新和投资。”

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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是最初的模因硬币，也是市值第六大加密货币，增长了3％。与索拉纳（Solana）相关的象征，该索拉纳（Solana）已成为模因硬币的首选主持人 - 包括官方的特朗普模因硬币 - 上涨了2％。

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

Coinbase和Robinhood的股票在下班后的交易中增长了约1％。

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

清晰度可以为两家交换运营商列出更多模因硬币的道路铺平道路，而无需进行监管执行的风险。

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首席执行官布莱恩·阿姆斯特朗（Brian Armstrong）说：“鉴于（现在有大约100万个]的标记现在正在创建，并且正在成长……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.

模因硬币，其中数千个位于风险频谱的最远的端。它们的积极交易是比特币和以太币的三到四倍，调整了市值，这使他们为新移民提供了利润丰厚的产品，他们认为他们可能会错过比特币上的船。从历史上看，它们一直是加密货币中零售利益和风险食欲的量表，尽管大多数市场参与者都强烈警告他们。

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.

尽管它们纯粹具有投机性和缺乏内在价值，但它们被广泛认为是加密市场的重要部门，也是互联网文化的重要组成部分，反映了加密货币社区的起源，文化和无许可性质。