CRYPTO CZAR DAVID SACKS HAS SAID NFTS AND MEMECOINS ARE COLLECTIBLES, NOT SECURITIES

Summary from the TLDR Crypto newsletter

White House crypto czar David Sacks argues that NFTs and memecoins should be classified as collectibles, like baseball cards or stamps, rather than securities or commodities, which would exempt them from stricter financial regulations. While his remarks don't change their legal status, they highlight the ongoing debate over how digital assets should be regulated and taxed in the U.S.