Is Biden backing crypto with new regs?
Crypto investors have been on edge since United States President Joe Biden issued an executive order back in March that ordered federal agencies to look into the benefits and risks that cryptocurrencies provide to the economy. Many were worried that the recommendations that would come back would suggest tight regulations that would potentially stifle growth for many crypto coins.
The report that came out of the investigation, though, provided some glimpses of hope for crypto investors. While there are no mandates that came out of the report as of yet, many of America's top regulatory agencies such as the Commodity Futures Trading Commission as well as the Securities and Exchange Commission are going to further work on potential action.
Some of the initiatives that were revealed from the report may actually show that Biden is backing crypto with these new regs. This gives some crypto coins such as Tamadoge (TAMA) a big advantage - right at the time when it hit the open market on the OKX exchange.
Let's dive further into this topic below, and why TAMA is an even better buy now than it was even just a few days ago.
One of the biggest positive takeaways from Biden's report is that the White House didn't immediately say it wants to clamp down on crypto. While they naturally want to get a handle on illegal financial transactions that might happen via crypto, the U.S. president didn't say he is against crypto as a whole.
Instead, the White House seems to be embracing digital currency a bit. The framework pointed out that there could be significant benefits" for the United States to create a CBDC, or a central bank digital currency. That essentially would be a digital format for the U.S. dollar.
That, in and of itself, is positive news for some Altcoins, such as Tamadoge, on two fronts.
For one, it shows that the U.S. is open to the presence of crypto in general. In order to offer a CBDC, for instance, the U.S. would have to pass regulations that allowed digital currency in the first place, which by default would trickle down benefits to meme coins.
Second, it also would essentially work against stablecoins, which peg their values to fiat currency such as the U.S. dollar. This could take down some huge stablecoins such as USD Coin and Tether, which would make meme coins such as Tamadoge stand out even more.
So, while crypto investors were on edge as they awaited the results of the U.S. report, they have to be celebrating the news that came out - especially if they were already investors in the next new exciting meme coin, Tamadoge.
Perfect Timing for TamadogeThe release of the U.S. report on cryptocurrency came just a week before Tamadoge announced exciting news of its own. On September 27, TAMA made its debut on the top-tier crypto network OKX, after a very successful Beta sale and presale. During the presale period - which ended months earlier than expected - TAMA raised $19 million.
Now that it's available on OKX, the future is looking even brighter for Tamadoge and its owners. Users will now be able to trade, purchase and sell TAMA tokens on the marketplace, which has both a centralized and decentralized exchange.
Tamadoge has long been seen as the next great thing in crypto coins, as it's completely changing how people look at meme coins. It's doing this by combining the traditional NFT and Play-to-Earn (P2E) markets into one.
Not only can users have fun with the game by training and breeding their doges, and playing with friends on the metaverse, they can also compete to build up the value of their doges. The completely decentralized aspect of the ecosystem also provides value to the NFT inside and outside of the Tamaverse, creating a built-in, real-world and long-term value for the token.
Tamadoge was also designed as a deflationary token. Instead of expanding the number of tokens available over time like other meme coins such as Dogecoin, Tamadoge is doing the exact opposite. This ensure that, in the long term, demand will outweigh supply, which will result in an increased valuation.
Finally, TAMA is very eco-friendly, as it's a pre-mined coin that doesn't require tons of computing power. This is extremely important and top-of-mind for many investors, especially as much of the world is experiencing energy crunches and focusing on reducing their carbon footprint.
Tamadoge was already on an upward trajectory before Biden released his framework on cryptocurrency regulation a week ago. With the release of the news, though, TAMA has an even better outlook that initially expected.
It seems as though the U.S. president is instructing federal regulatory agencies to make it easier for some crypto to operate, which should open up the interest to even more investors. And while the framework may stunt the growth of some crypto markets such as stablecoins, others such as meme coins are bound to grow.
This makes the absolute perfect time to invest in the newest meme coin Tamadoge. After an extremely exciting presale, TAMA is now available on OKX. The top-tier crypto platform is featuring an exciting offer for new members now.
People who sign up for a new account on their site can claim a mystery box that could be worth up to $10,000. All you have to do is sign up for an account, verify the account and claim your mystery box to see what prize you have won.
This is another great incentive to sign up at OKX and buy Tamadoge now. TAMA was just listed on the platform on September 27, and it's looking like it's going to soar in value. As such, it's important to get in now before you miss the boat on this exciting investment opportunity.
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