New meme coin, Punisher Coin, not registered with SEC

The Securities and Exchange Commission (SEC) has recently identified a new meme coin, ‘PUNISHER COIN’ or ‘SPUN,’ as being unauthorized for public issuance. The commission released a public notice stating that the individuals behind the meme coin were not registered to engage in any activities within the country’s capital market. Additionally, the SEC clarified that the PUNISHER COIN (SPUN) had not received approval for public issuance by the commission.

Upon conducting preliminary investigations, the SEC determined that PUNISHER COIN (SPUN) falls into the category of meme coins. These types of coins typically lack any practical use, intrinsic value, or concrete projects to support them. The value associated with meme coins often depends on the actions of their promoters or community effort, making them vulnerable to schemes like pump and dump.

Pump and dump schemes involve the spread of false or misleading information by promoters to create a buying frenzy, artificially inflating the price of a coin before selling off their own supply at the inflated price. Once the promoters cease their activities, the coin’s value tends to decrease, resulting in financial losses for investors. The SEC cautioned the public against participating in the alleged presale of the meme coin, emphasizing that any investment in such schemes is undertaken at the individual’s own risk.

It is crucial for individuals to verify the legitimacy of crypto, virtual, or digital assets, as well as the registration status of their promoters and trading platforms. The SEC provides a portal for verifying this information and encourages investors to exercise due diligence. Under the new Investment and Securities Act of 2025, digital assets have officially come under the SEC’s regulatory purview, necessitating registration for virtual asset service providers and digital asset exchanges.

In recent months, the SEC has ramped up its enforcement activities, publicly denouncing companies operating without proper regulatory authorization. This proactive approach aligns with the SEC’s mandate to safeguard investors, ensure financial transparency, and maintain the integrity of the capital market. Earlier this year, the SEC issued a public warning regarding Property World Africa Network (PWAN) and its associated platforms, PWAN MAX and Silverkuun Investment Cooperative Society.

As the regulatory landscape evolves, investors should remain vigilant and stay informed about the authenticity of digital assets and the regulatory status of market participants. By adhering to regulatory guidelines and conducting thorough research, investors can mitigate risks associated with unauthorized investments and protect their financial interests in the evolving digital asset space.