Memecoin Suits Test Trump’s SEC on Pivot in Crypto Enforcement

Securities lawsuits targeting memecoins are testing how digital asset losses should be litigated as President Donald Trump‘s administration signals a softer approach to crypto.

A string of securities lawsuits filed over the past couple of months turn on whether memecoin trades should be treated as security transactions. Speculative and volatile—even when compared to other digital assets—memecoins are crypto tokens that gain traction through internet popularity and collect buyers by tapping into their fear of missing out.

Two lawsuits brought since December go after Hawk Tuah memecoin promoters, named for the so-called “Hawk Tuah Girl” Haliey Welch. Two target ...