According to online reports, lawyers from Gibson Law Firm said that the recently released memecoin guidance by the US SEC may imply that it will adjust its cryptocurrency regulatory policies and even affect the application of Howey's test. The U.S. SEC previously issued a statement saying that memecoin should not generally be regarded as securities because its buyers 'funds are not concentrated on developing related projects and its prices rely on market speculation and collective sentiment. This position conflicts with the SEC's previous views in lawsuits against cryptocurrency exchanges and could affect digital asset trading in all secondary markets. 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 U.S. cryptocurrency policy.