Marshall Hyner, one of the directors of the Dogecoin Foundation, founded by the developers of the joke-themed cryptocurrency DOGE, gave an interview to a US media organization. The manager focused on regulations in his statements.
Hyner claimed that Dogecoin has similar characteristics to BTC and that the meme token cannot be considered a "security". The Dogecoin executive thinks the SEC and other regulators will have a hard time putting pressure on them because they have a strong community behind them.
Pointing to the increasing pressure on the crypto sector in the US, Hyner stated that he was not very happy with the SEC's approach. The Dogecoin phenomenon urged institutions to support the industry with inspections rather than sanctions:
Dogecoin Might Be In The Top Three!
DOGE foundation manager Marshall Hyner believes that if the community continues to grow, the project will rank among the top 3 cryptocurrencies.
The dog-themed cryptocurrency ranks 9th with a market cap of $11 billion, according to CoinGecko data. For Hyner's claim to come true, DOGE needs to beat the 3rd-ranked Tether. The market value of USDT is currently $81.5 billion.