Community Launches Decentralized Memecoin To Take Anti-SEC Stance
In response to the Securities and Exchange Commission (SEC) ‘s increasing regulatory scrutiny of the cryptocurrency industry, a small group of community members launched a decentralized anti-SEC memecoin called NotWifGary (NWG) on May 16.
The memecoin project will take an anti-SEC and pro-Ethereum stance, rallying support for open-source developers and the broader Ethereum ecosystem.
We're so tired of this regulatory uncertainty that prevents #Ethereum to fly high, it's time to take our steps in this journey and be vocal.
We dream a community that will be so loud that politicians can't ignore us anymore.
— Marco Monaco #ETHforAll (@marcomonaco83) May 15, 2024
The creation of NWG comes amid heightened regulatory focus on crypto by figures such as SEC Chair Gary Gensler. The anti-SEC memecoin is part of a movement to counter what its creators see as unjust regulatory pressure.
Marco Monaco, a member of the NWG initiative, clarified that, despite his involvement with the zkEVM ecosystem Linea, the project is entirely separate from Linea and Consensys.
“My involvement in this project is 100% at a personal level, and I’m not doing this in my official @LineaBuild role,” Monaco said. “This project is not tied at all to Linea or @Consensys, even if $NWG will stand with similar companies and support them during their journey against the SEC.”
The official NWG account posted on X (formerly Twitter) that the project will “stand against Gary Gensler and the SEC, who are unlawfully threatening digital property by attacking Ethereum and open-source developers.”
GM Crypto!
Let us introduce NotWifGary, a new community in the space that wants to emerge and go live to stand our ground against Gary Gensler and the SEC, who are unlawfully
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