Good news: The US SEC has ruled that memecoin "is not a security". Is Trump exculpating himself in advance?

The U.S. Securities and Exchange Commission (SEC) issued a statement on February 27, stating that the agency has determined that Memecoins are not securities: The types of Memecoin transactions described in this statement do not involve the issuance and sale of securities under federal securities laws. Therefore, persons involved in the issuance and sale of Memecoins are not required to register with the SEC under the Securities Act of 1933. Memecoins do not constitute any of the specific financial instruments enumerated in the definition of a security, as Memecoins do not generate earnings or convey rights to future income, profits, or the assets of an enterprise, in other words, Memecoins themselves are not securities. However, the SEC also noted that some Memecoin issuances and sales, or products packaged as Memecoins, may still constitute securities, and any related fraudulent activities may be subject to enforcement actions by other federal or state agencies. Regarding the TRUMP Coin launched by former President Trump, some investors believe that Trump may have contributed to the market downturn, and he could potentially face legal consequences. Meanwhile, a U.S. Congressman has proposed a bill to prohibit public officials and their families, including the President and other officials, from issuing digital assets for personal gain, arguing that this should be defined as corruption.