David Sacks, Crypto Advisor, Declares NFTs and Memecoins as Collectibles, Not Securities, According to Fortune

David Sacks, the White House's top crypto advisor, has stated that non-fungible tokens (NFTs) and memecoins should be classified as collectibles rather than securities.

In comments reported by Fortune, Sacks compared these digital assets to traditional collectibles such as baseball cards and stamps, emphasizing that they do not fall under the categories of stocks or commodities. This perspective has sparked discussions within the cryptocurrency community regarding the regulatory treatment of these assets.

Sacks has previously been noted for his involvement in the cryptocurrency space, including investments in Solana and a memecoin created in his likeness, which he publicly endorsed.

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