According to Golden Finance, lawyers at Gibson Law Firm said the recent memecoin guidance released by the US SEC 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 be generally considered a securities because its buyer's funds are not concentrated in the development of related projects and prices rely on market speculation and collective sentiment. This position contradicts the views held by the SEC in previous lawsuits against cryptocurrency exchanges and may affect digital asset trading in all secondary markets. Analysts believe that the move shows that the SEC is gradually moving away from the tough regulatory approaches of former Chairman Gary Gensler, bringing a clearer direction for US cryptocurrency policy.