Ripple's Chief Legal Officer: The SEC's logic that meme tokens do not qualify as securities is clear and legally sound.
Powered by ChatGPTAccording to Foresight News, Ripple's Chief Legal Officer Stuart Alderoty commented on the SEC's statement that meme tokens do not qualify as securities, stating, "The beauty of this statement lies in its simplicity and clarity. For the U.S. Securities and Exchange Commission, the question is whether something falls under its jurisdiction, not whether it is legal or illegal. If fraud occurs, other agencies can take action. The guidelines adhere to law and precedent, avoiding ambiguous concepts like decentralization. Meme tokens are not securities because they do not confer rights to revenue, profits, or assets. Their value comes from market sentiment rather than the efforts of management. Without an investment in a common enterprise, there is no investment contract. It doesn't have to be complicated."
According to Foresight News, Ripple's Chief Legal Officer Stuart Alderoty commented on the SEC's statement that meme tokens do not qualify as securities, stating, "The beauty of this statement lies in its simplicity and clarity. For the U.S. Securities and Exchange Commission, the question is whether something falls under its jurisdiction, not whether it is legal or illegal. If fraud occurs, other agencies can take action. The guidelines adhere to law and precedent, avoiding ambiguous concepts like decentralization. Meme tokens are not securities because they do not confer rights to revenue, profits, or assets. Their value comes from market sentiment rather than the efforts of management. Without an investment in a common enterprise, there is no investment contract. It doesn't have to be complicated."