The Crypto Tsar David Sacks from the White House says that the Trump administration can offer clarity for digital assets within six months.
In a new discussion about the All-in Podcast, Sacks says that the most important thing for us supervisors to look at when it comes to Crypto is market structure, or defining the different assets within the digital assets ecosystem so that founders can with more clarity Build.
‘It is called’ market structure ‘. What will the definitions be? Because digital assets can be many things.
Some digital assets are cryptocurrencies, they are actually currencies. Then there are things that are crypto effects, then there are things that are raw materials. Bitcoin is actually regulated as a merchandise at the moment. And then you have things that are not effects or raw materials, they are like collective objects, NFTs (non-fungal tokens), things like that.
So there are all these different categories and one of the things that the market needs is simply clarity about the definitions, so that founders know what the rules are of the road and they can meet this.
So giving those definitions and describing how a crypto project could start, for example as a security and ultimately the protocol can be decentralized enough where it might be a raw material – that whole idea, that is called market structure … “
Sacks says that with the Republican control over the house, the legislators now set a solid crypto instructions that can linger, in contrast to earlier accounts that had little effect.
“I think there is a pretty good chance that we can do this in the next six months.”
https://www.youtube.com/watch?v=R3Q5TRWSEK0
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