David Sacks Predicts Clearer Cryptocurrency Regulations Within Six Months – BitRss

David Sacks, a key figure in the White House regarding digital assets, made significant statements about cryptocurrency regulations. He indicated that regulatory clarity could be achieved in as little as six months. The new regulations aim to establish a clear market structure based on distinct definitions for different types of cryptocurrencies.

Reducing Uncertainties in the Cryptocurrency Market

Sacks announced that U.S. regulators are planning to create a new market structure to clarify the legal status of cryptocurrencies. The primary focus of this process will be to classify various cryptocurrencies based on their functionalities. Some cryptocurrencies may hold financial value, while others could be classified as securities, commodities, or collectibles.

For instance, while Bitcoin $96,221 is currently recognized as a commodity, other cry…