White House virtual assets chief "SEC·CFTC form virtual asset regulatory dream team"

The White House said it has finished assembling key personnel to overhaul the regulatory framework for virtual assets centered on the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

On the 22nd (local time), according to virtual asset (cryptocurrency) specialist media Cointelegraph, David Sacks (David Sacks), the White House AI and virtual assets official, said the SEC and CFTC have formed a 'dream team' to devise clear regulations for virtual assets.

Sacks said, "This is a very special time," and explained, "Various new technologies, products, and platforms are emerging, and individual investor participation in commodity markets has reached record highs." He added, "Congress is also preparing to submit to the president a digital asset market structure bill to firmly make the United States the world's center for virtual assets."

The market structure bill is centered on distinguishing virtual assets as securities and commodities and clearly dividing supervisory authority between the SEC and CFTC. The goal is to resolve overlapping regulation and uncertainty and to lay the groundwork for the virtual asset industry to grow within the regulatory framework.

Markets say that, given the White House's putting regulatory overhaul at the forefront, discussions on virtual asset policy are likely to accelerate. In particular, if the cooperation structure between the SEC and CFTC becomes clear, regulatory predictability for both virtual asset firms and investors is expected to increase.