The U.S. Securities and Exchange Commission (SEC) officially ruled Thursday that meme coins were not securities, instead likening them to collectibles.

Meme coins have long been at the center of debate among regulators and the cryptocurrency industry, especially amid the rise in scams and rug pulls in the wild blockchain segment.

In a statement, the Wall Street regulator clarified "transactions in the types of meme coins described in this statement, do not involve the offer and sale of securities under the federal securities law," effectively stating that meme tokens were not securities and instead were "akin to collectibles."

Under the SEC's designation, coins like Dogecoin (DOGE), Official Trump (TRUMP), and other similar meme-based coins are........

© International Business Times