The U.S. Securities and Exchange Commission (SEC) has officially dismissed its lawsuit against Coinbase, the cryptocurrency exchange. The case was dismissed with prejudice, preventing the SEC from reopening it in the future. This marks a significant development for Coinbase and the broader cryptocurrency industry. In a separate statement, the SEC announced that memecoins are generally not considered securities under federal law. The agency clarified that transactions involving memecoins do not involve the offer and sale of securities and are akin to collectibles with limited or no functionality. However, the SEC cautioned that while memecoins are not deemed securities, fraudulent conduct related to their offer and sale may still be subject to enforcement action or prosecution by other federal or state agencies under other laws.