New York Financial Services Department Warns Against Meme Coins

According to Odaily, the New York Financial Services Department has issued a consumer alert warning about the risks associated with 'emotion-based virtual currencies,' commonly known as meme coins. The department highlighted the extreme volatility, lack of regulation, and high fraud risk associated with these tokens, including schemes like 'pump and dump.' It noted that meme coins are often... source: https://www.binance.com/en/square/post/19356480628465?utm_source=BinanceNewsRSS