The Dogecoin community, along with non-crypto users are buzzing with excitement after a well-known insider within the X and Dogecoin teams posted an announcement on its verified handle. The handle, “DogeDesigner,” revealed that the X Payments service is expected to launch later in 2024.
DOGE Community’s Enthusiastic Response
As per hints dropped by Elon Musk following his acquisition of the social media platform, payment services are anticipated by its users. Following the announcement, the Dogecoin army, a loyal and passionate community, responded enthusiastically.
Brian Basson (@BassonBrain), a member of the community, responded to the announcement with:
“Going to be a lot of fun using an X card …”
The comment mirrors the expectation of the DOGE community, signaling acceptability.
Despite the buzz, Elon Musk, the owner of X is yet to make any official statements. The enigmatic entrepreneur has not confirmed Dogecoin’s integration as an official currency on the platform. Regardless, the Dogecoin community remains optimistic.
Musk’s Stance Amid Regulatory Considerations
However, in the past, Musk has repeatedly clarified that neither X nor any of his other companies have plans to create their native cryptocurrencies. This stance, according to industry stakeholders, is likely influenced by ongoing regulatory scrutiny from the U.S. Securities and Exchange Commission (SEC).
The SEC’s stance and controversial regulations have made billionaire investor Mark Cuban advise the commission to take a cue from the progressive crypto regulatory landscape in Japan.
In the midst of the announcement, the X Corporation is actively securing licenses to process payments across various U.S. states. Notably, this includes the potential for conducting payments in cryptocurrencies.
This move fuels the Dogecoin community’s hopes that Musk, known for his affinity for DOGE, will eventually integrate the meme cryptocurrency as a payment option on his social media platform.
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