Khurram Dara, a lawyer and head of regulation and policy at Bain Capital Crypto, wrote on the X platform that the US SEC issued guidance on meme coins today, making it clear that "meme coins" are not securities, but more like collectibles. As soon as this news came out, some market participants interpreted it as the SEC's regulatory attitude towards meme coins "loosening". However, Khurram Dara cautioned that the market should not read too much into the "friendly" stance of the SEC, whose statement represents only the opinion of its corporate finance regulator and is limited to the level of federal securities laws. More importantly, the SEC ended its guidance explicitly emphasizing that if the issuance and sale of meme coins involves fraud, it will still face enforcement and prosecution by other federal or state agencies.