The U.S. government currently has no plans to adopt Dogecoin, Elon Musk said Sunday.
"There are no plans for the government to use Dogecoin or anything as far as I know," Musk said during a town hall meeting hosted by the America PAC, which he created last year.
On stage, the Tesla CEO explained that the name of the federal department came from suggestions on the internet, which led him to change the name from Government Efficiency Commission to DOGE.
"The names are similar, but they're doing two very different things," Musk said. "We're just literally trying to make the government 15% more efficient."
I personally doubt the possibility of the SEC's Dogecoin ETF approvals despite Elon Musk influence on the current regime of Donald Trump. There are many utility token ETF applications before SEC, i am completely not sure of any meme coins ETF will be approve.Not the developers or creators that are applying for the ETF. Asset managers are the companies applying for it. About doge ETF application, you can read this:
I think the utility tokens that had applied for ETF, like XRP, Sol, not sure if Ada has applied, but XRP and Sol may get ETF registrations approval in near future, being part of the US strategic reserve coins/token that was listed.
It should not be the reason we should discuss about if doge spot ETF will be filled for and be approved in the United States.
If doge is due to have ETF and it is filled for by some asset managers, the SEC may approve it.
It should not be the reason we should discuss about if doge spot ETF will be filled for and be approved in the United States.
If doge is due to have ETF and it is filled for by some asset managers, the SEC may approve it.
I agree. That's a different situation entirely.. but of what use would be a doge ETF really in the long run as a memecoin?
I agree. That's a different situation entirely.. but of what use would be a doge ETF really in the long run as a memecoin?For people to be buying the shares. Doge has some utilities. I gave seen it as a payment alternative to bitcoin with some other altcoins. But these coins are just not store of value.
Maybe among of the strategic reserves.Only bitcoin is still part of the reserve. Among the coins that Trump mentioned, doge is not among.
I agree. That's a different situation entirely.. but of what use would be a doge ETF really in the long run as a memecoin?For people to be buying the shares. Doge has some utilities. I gave seen it as a payment alternative to bitcoin with some other altcoins. But these coins are just not store of value.Maybe among of the strategic reserves.Only bitcoin is still part of the reserve. Among the coins that Trump mentioned, doge is not among.
---That will make the government funny if they will use a meme coin like DOGE, and that might affect the reputation and some governments will look them as a "funny" government because they will be using a meme coin like DOGE. I mean if they're planning on using a cryptocurrency, there are more and better options out there like Bitcoin itself, or maybe Ethereum, or maybe Ripple, but not DOGE.
People who are entertaining the idea that Dogecoin will somehow get involved with DOGE or the government for that matter should now realize that this is not happening even with Elon Musk is now becoming a very influential public figure in the administration of POTUS Trump. Though this can be somewhat of a bad news to Dogecoin supporters and enthusiasts, this is actually good since there should be a defined line between the government and the cryptocurrency industry (the regulator and the regulated). I am just wondering if this can affect the possibility of a Dogecoin ETF into the future...or does that idea not deserving to be explored in the first place?
it is good to finally have a clear stance on this so the doge investors can now be at peace and know where they stand i do think that knowing is better than being left in the dark so at least now they have their answer but this doesn't mean that doge should be totally useless now because doge can still be used in x and in tesla both elon musk's companies it just wouldn't be part of the government plans(https://www.tbstat.com/cdn-cgi/image/format=webp,q=50,w=600/wp/uploads/2021/10/20220414_Elon-1-1200x675.jpg)Quote
The U.S. government currently has no plans to adopt Dogecoin, Elon Musk said Sunday.
"There are no plans for the government to use Dogecoin or anything as far as I know," Musk said during a town hall meeting hosted by the America PAC, which he created last year.
Right, using meme like doge in payment system is silly things, also no use case of doge, reputated country like us will not make mistakes to use doge
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In any case, I don't believe this is a different matter from the Dogecoin ETF, which is expected to be approved, and I believe Elon Musk's statement will not affect the approval decision.
Doge has always been a fun cryptocurrency in the literal sense with great community support and a coin that some like me discovered at the same time as BTC. Little from that period has survived to this day, and that in itself shows that the crypto community's support for this coin has never been lost.Yes, I agree, I've been a fan of Doge since I was first introduced to cryptocurrencies, even though it doesn't have any project.