The characterization of digital currencies has been the subject of considerable debate recently. One such question is whether assets such as unique tokens (NFTs) and MEME coins should be classified as commodities and securities.
characterization of digital currencies has been the subject of considerable debate recently. One such debate is whether assets such as unique tokens (NFTs) and
#MEME coins should be categorized as commodities and securities.
In a new event, David Sachs of the White House has spoken out on the issue and urged
FT- and In his opinion, MEME tokens should not be classified as securities. Sachs believes that these assets are more like collectibles and that classifying them as commodities would slow down the development of the
#cryptocurrency industry in the United States. During a discussion
TRUMP memcoins, Sachs stated that
FT-coins and image coins are In his opinion, they are "much closer to baseball cards" than commodities/securities. He argued that these
#digital assets do not qualify as investments and do not meet the Howey test used in traditional legal systems to determine whether an asset is a security.
When we talk about digital assets, we can deal with several things. Digital assets that are securities, digital assets that are commodities, digital assets that are collectibles such as "NFTs" or meme coins. In other words, the field of innovation is broad. In other words, digital assets can be many different things, David Sachs said.
These comments were made during a debate on how to manage cryptocurrency businesses in the US. The US Securities and Exchange Commission (SEC) has taken a tough stance on the governance of
#cryptocurrencies , arguing that some digital assets fall under its jurisdiction.
it is argued that the continued weakness of regulators is stifling development and preventing companies from investing in the sector.
David explained in an interview that clear regulation could really help the US crypto industry.
What the industry wants most is clarity in regulation. Give us the rules and we will follow them.
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