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As the meme coin craze continues, the market capitalization increased from $20 billion in January 2024 to $120 billion by the end of the same year. It is no surprise that Dubai’s Virtual Assets Regulatory Authority (VARA) has issued an alert informing consumers and investors of the risks associated with advertisements promoting subscriptions to memecoins. The alert emphasized that many meme coins lack intrinsic value and derive their pricing from social media trends, hype, or misleading promotional strategies. Memecoins issued out of Dubai need to adhere to VARA regulations Per VARA, “Investors should exercise caution when presented with claims of unrealistic returns, as these often indicate fraudulent schemes.” VARA also alerts investors and consumers to the fact that there is a risk of significant financial loss within short timeframes due to price collapses, liquidity shortages, or scams. The regulator also clarified that any virtual asset issued from Dubai including any promotions, advertisements, or solicitation needs to adhere to regulations and rulebooks set by VARA. VARA warns entities engaging in unauthorized virtual asset activities of possible enforcement action. “Both consumers and investors should be aware that access to memecoin platforms may be restricted without prior notice. Thus, everyone must take necessary measures to safeguard personal financial security.” The announcement from VARA comes days after the UAE Ministry of Energy (MOEI) partnered with Shiba Inu to develop Web3 solutions in energy, infrastructure, and more. The UAE Ministry of Energy will leverage Shiba Inu’s broad range of Web3 technologies to support public service efficiency, green infrastructure, and citizen-focused governance models. Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here

I’m calling on all Bitcoin and blockchain enthusiasts! A centralized blockchain like Solana is currently causing the most damage to our crypto ecosystem. Right now, there are 11 million altcoins, and 90% of them are Solana pump-fueled meme coins—scamming millions of people with zero real utility. You have better odds in a casino than with these coins. Long story short—we need to focus on decentralization and real value-generating projects. We must shift our focus to true builders, starting with Ethereum, and clean up our ecosystem from Solana pump schemes and scam-filled projects that only harm investors. While everyone is waiting for an altcoin season, the reality is millions of small investors are being scammed, left bankrupt, or even driven to despair. Investors must focus on Bitcoin, Ethereum, and real developers who create real value. It’s time to reclaim our path as revolutionaries changing the world! 🚀

I’m calling on all Bitcoin and blockchain enthusiasts! A centralized blockchain like Solana is currently causing the most damage to our crypto ecosystem. Right now, there are 11 million altcoins, and 90% of them are Solana pump-fueled meme coins—scamming millions of people with zero real utility. You have better odds in a casino than with these coins. Long story short—we need to focus on decentralization and real value-generating projects. We must shift our focus to true builders, starting with Ethereum, and clean up our ecosystem from Solana pump schemes and scam-filled projects that only harm investors. While everyone is waiting for an altcoin season, the reality is millions of small investors are being scammed, left bankrupt, or even driven to despair. Investors must focus on Bitcoin, Ethereum, and real developers who create real value. It’s time to reclaim our path as revolutionaries changing the world! 🚀

Hester Peirce stated many meme coins fall outside SEC’s regulations. Peirce differs from Gensler’s previous view on crypto regulation. Meme coins like TRUMP experienced major volatility, resulting in investor losses. Commissioner of the US Securities and Exchange Commission (SEC) Hester Peirce addressed the regulatory status of meme coins, saying many of these digital tokens likely do not fall under the SEC’s jurisdiction. In an interview with Bloomberg, Peirce stated that many meme coins, including those flooding the market, lack the characteristics that would bring them under current SEC rules. According to Peirce, “Many of the meme coins that are out there probably do not have a home in the SEC under our current set of regulations.If Congress wants to address, they can do that; maybe something that the CFTC wants to address, but many of those, I think, probably are not under our jurisdiction.” She explained individuals should be allowed to invest in tokens without government interference but also should be prepared for the possibility that the value of such tokens might eventually drop. She said, “If people want to buy a token or product that … The post SEC Memo: Hester Peirce Explores Meme Coin Regulation Limits appeared first on Coin Edition.

SHIB Burn Rate Spikes 4500%, Shiba Inu Coin To Set Go Parabolic? SHIB burn rate noted a stunning 4500% uptick as millions of tokens were burned. Shiba Inu coin signals a parabolic run. Shiba Inu coin has again reverberated bullishness across the broader market on Thursday, witnessing a staggering 4500% uptick in the SHIB burn rate. Latest burn data indicated that over 50 million coins were taken out of the token’s circulating supply, underlining the crypto’s potential to pump ahead. Simultaneously, even the meme coin’s intraday movement showcased remarkable gains, pouring additional optimism toward the crypto’s future movements. SHIB Burn Soars 4500% As Over 50M Coins Destroyed According to the official burn tracker Shibburn’s data on November 28, the SHIB burn rate showed a 4483% surge over the past day. This massive surge is primarily attributed to the destruction of 53.61 million tokens. Besides, following the token destruction, market supply for the dog-themed meme crypto totaled 589.26 trillion SHIB. In the preliminary context, the meme coin’s token burn mechanism results in a supply decline for the asset, which is a bullish aspect per the law of supply and demand. Simultaneously, other bullish events appear to have bolstered the crypto’s market standing. Notably, Binance has recently expanded trade offerings for Shiba Inu coin, CoinGape reported. The leading crypto exchange commenced spot grid and spot DCA for SHIB/USDC, paving the path for further money inflow into the token’s ecosystem. Overall, the burn rate surge and enhanced trade offerings generated an optimistic torrent for the cryptocurrency and its price movements.