Odaily News Lawyers at Gibson Law Firm said that the US SEC's recently released memecoin guidance may imply that it will adjust its cryptocurrency regulatory policy and even affect the application of the Howey test. The US SEC previously issued a statement saying that memecoin should not generally be considered a security because the funds of its buyers are not concentrated on the development of related projects and the price depends on market speculation and collective sentiment. This position contradicts the SEC's previous views in lawsuits against cryptocurrency exchanges and may affect all digital asset transactions in the secondary market. Analysts believe that this move shows that the SEC is gradually moving away from the tough regulatory approach of former Chairman Gary Gensler, bringing a clearer development direction to US cryptocurrency policy.