Coin Bureau founder: Lack of regulation is the main reason for the collapse of the LIBRA meme coin

ChainCatcher news, according to Cointelegraph, Coin Bureau co-founder and CEO Nic Puckrin commented on the meme coin incident involving LIBRA, which was endorsed by Argentine President Milei and then quickly collapsed, pointing out that regulators should bear primary responsibility for such events. He emphasized that the regulatory vacuum created by agencies like the SEC has led to a surge in meme coin scams involving celebrities and political figures.

SEC cryptocurrency working group head Hester Peirce previously stated that meme coin regulation is outside the SEC's jurisdiction and should be handled by Congress and the CFTC. In response, Puckrin stated that the crypto ecosystem cannot achieve self-regulation and that the meme coin market cannot continue to exist in a "lawless Wild West" state. He called for the U.S. Department of Justice to increase resource investment to combat the worst cases of telecom fraud, money laundering, and market manipulation.

Christopher Perkins, president of CoinFund and former CFTC member, held a different view, arguing that meme coins are "one of the few crypto assets currently enjoying regulatory clarity," and any actions involving fraud and market manipulation are illegal under existing regulations. According to analysis by Traders Union, most jurisdictions worldwide have yet to establish specific regulatory guidelines for the meme coin industry.