SEC member Hester Peirce, known as Crypto Mom for his positive approach to Cryptocurrencies, warned once again about Memecoins.
This warning from Hester Peirce came on the same day that Memecoin, known as Libra, was allegedly a scam, but SEC members said that Memecoin investors were not protected.
Speaking recently on the Bankless Podcast, SEC members warned Memecoin investors that they will be themselves if they experience losses.
Noting that Mimecoin investors should manage their risks well, Perth said they should not expect government protection or relief when they experience significant losses.
Perth reminded traders that Memecoin could fall outside of SEC surveillance and called on them to take responsibility for their investment.
“Just because something is so popular doesn’t mean it falls under second jurisdiction.
So I warn people not to expect the SEC to be the backbone behind everything…
I really believe in people who have the freedom to spend their money the way they want, but if we want to live in a place where people have options, we also have the responsibility that comes with those choices. You have to accept it.
People enjoy Memecoin and all sorts of other things, but that doesn’t matter.
If prices drop, don’t expect peace of mind from the SEC. ”
*This is not investment advice.
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