In a recent Law360 article, Thompson Coburn attorneys Eileen Duffy Robinett and Jennifer Post wrote on the evolving and complex regulatory framework for meme coins. They cover unique characteristics of the digital assets, the surrounding regulatory landscape, next steps, and questions related to the issuance of a $Trump meme coin.
Highlighting the lack of clear guidelines, they wrote, “As with all crypto-assets, neither Congress nor regulators have yet adopted a clear rules-based framework that specifically addresses how meme coins should be treated under federal securities laws. Instead, until recently, the U.S. Securities and Exchange Commission has relied on a regulation-by-enforcement approach, applying traditional securities law definitions to new forms of crypto-assets.”
The authors explored the impact of the Trump administration’s pro-crypto policies, observing that “the crypto industry has welcomed the prospect of the Trump administration’s promises to effect a well-reasoned regulatory framework for crypto-assets that recognizes crypto’s role as a legitimate business tool.” They noted while a more reasoned framework for crypto assets under the federal securities law is desired by most who do business or provide legal advice in this industry, the changes expected under Trump’s administration may face an arguable conflict of interest because of his affiliation with the $Trump meme coin.
Click here to read the full article.
Click here to read the article on Law360.
