"Notwithstanding a regulatory framework around stablecoin, they're going to be commodities in my view," the CFTC chairman said.
Kusama said they are "working on that and some other final details to ensure a smooth launch based on the above info."
The recent achievement, alongside its active community and use cases, could position the meme coin as a viable financial instrument.
Market intelligence platform Santiment, in a report last week, identified nine undervalued crypto assets in terms of short-term and long-term returns.
The positive news fueled the price of DOGE and compelled it to signal a potential break out from the descending wedge pattern.
"Haters, you can deal with that, it is what it is," Matt Wallace said, adding that "it is time to continue making videos for Dogecoin."
SHIB maintained its seat in the list of crypto assets, which suggests that the development team is on the right track in handling the current market situation.
The developer also made it clear that if the proposal were true, the foundation would have to involve the community before making a move.
"But seriously... I'm just putting a nice bow on it so we can reach those outside the army and then there are a lot of docs to organize and put up and then VOILA," Kusama said.
The surge in the trading volume of Dogecoin took place following Musk's Christmas greeting on the social media platform Twitter.
Before its official launch, the Shiba Inu development team will first release the Shibarium documentation and will roll out the beta version of the project for users to try it out.
Elon Musk has been instrumental in the rise and fall of Dogecoin price.
It appears that some of the pseudonymous lead developer's followers may have confused the countdown of the official launch of the Shibtoken website with the highly anticipated Shibarium announcement.
DOGE's price spikes were backed by Musk's acquisition of Twitter and speculations of the new Chief Twit integrating crypto payments in the platform using Dogecoin.
Shytoshi Kusama assured the community that it's just a matter of time before Shibarium officially rolls out and noted that its arrival is "not that long."
With 2022 at its tail end, the Shib Army is eager to hear any updates about Shibarium.
Aside from the riddle, Shytoshi Kusama, the Shiba Inu pseudonymous lead developer, made another change to their Twitter bio.
Unlike its rival Dogecoin, which has made decent gains, thanks to Elon Musk, the Shiba Inu price moved with the overall sentiment of the global crypto market
Launched in July last year, BONE has come a long way and even reached its all-time high on Oct. 8 when it traded at $3.02.
Despite this impressive performance in the current bear market, DOGE's price is 84.5% of its all-time high price of $0.682 on May 8, 2021.
BITPoint is the first licensed cryptocurrency exchange in Japan to list Shiba Inu.
Kusama wanted the Shib Army to decide whether the Shiba Inu project should work with the international non-government organization.
The impressive performance of Dogecoin and the fact that Musk is one of its supporters could be the reason why DOGE holders are not worried despite the prolonged crypto winter.
The cryptocurrency, which had been lauded by FTX's founder Sam Bankman-Fried, has been hit harder than any other major coin by the collapse of the exchange.
Around 34,247,996 SOL tokens will get unlocked at Epoch 370, which will occur at around 3:37 a.m. ET Thursday.
Despite Google Cloud running a blockchain node on Solana, the SOL token crashed more than 11% and was pushed out of the top 10 coins by market cap.
THORChain, a Cosmos-based blockchain, has been halted due to a network outage.
Hash rate tells how secure a cryptocurrency mining is, meaning, the higher the hash rate, the more secure the network is.
Shiba Inu achieves another milestone, something the Shib Army is definitely proud of.
Ripple has begun testing a sidechain, which will allow developers to deploy Ethereum-based smart contracts on the XRP Ledger.