Odaily reported that Bain Capital legal counsel @KhurramDara posted on X platform stating that the SEC has clearly stated in its statement that it cannot simply call an asset a "MEME" and consider it not subject to federal securities laws. It is worth noting that even if the trading behavior of MEME does not involve traditional securities investment contracts, if its characteristics change or it carries an explicit promise of investment returns, it may still be subject to securities law regulation. Previously, the US Securities and Exchange Commission (SEC) Division of Corporation Finance issued guidance on memecoins, stating that they are not securities but are similar to collectibles. The division believes that the transactions of memecoins described in the guidance do not involve the issuance and sale of securities as defined in the Securities Act. Therefore, individuals involved in the issuance and sale of memecoins do not need to register their transactions with the Commission under the Securities Act of 1933, nor do they need to comply with the registration exemption provisions of the Securities Act. As a result, purchasers or holders of memecoins are not protected by federal securities laws.