SEC Member Hester Peirce Warns Against These Altcoins Once Again! "You're On Your Own!"

SEC member Hester Peirce, also known as the 'Crypto Mom' due to her positive stance towards cryptocurrencies, once again warned about memecoins.

While Hester Peirce's warning comes on the same day that the memecoin LIBRA is alleged to be a scam, the SEC member stated that memecoin investors are not protected.

Recently, a SEC member speaking on the Bankless podcast warned meme coin investors that meme coins may fall outside the jurisdiction of the federal regulatory agency, cautioning them that they may be on their own when they experience losses.

Peirce, who emphasizes the importance of meme coin investors managing their risks well, said that they should not expect government protection or rescue packages when they experience significant losses.

Peirce reminded traders that memecoins may fall outside SEC oversight, calling on them to take responsibility for their investments.

"Just because something is very popular doesn't mean it's going to fall under SEC jurisdiction.

That's why I warn people not to expect that the SEC will be a foothold behind everything...

I'm a big believer in people having the freedom to use their money in any way they want. But if we want to live in a place where people can make choices, we must also accept the responsibility that comes with those choices.

People are having fun with memecoins and many other things. However, that's not the issue.

Do not expect any assurance from the SEC if prices fall.