David Sacks: NFTs and Memecoins Are Collectibles, Not Securities

Non-fungible tokens (NFTs) and memecoins are more akin to collectibles than securities, according to David Sacks, special advisor on AI and cryptocurrencies for the newly established task force by Donald Trump, as reported by Fortune.

“It’s like a baseball card or a stamp. People buy it to preserve the memory of something significant,” he noted.

Sacks expressed hope that new regulatory policies will bring crypto business back to the United States.

“What the industry craves most is regulatory clarity,” the expert concluded.

The task force established by the U.S. President is expected to assess the “potential for creating and maintaining a national reserve of digital assets” within 180 days.