According to U.Today, a tweet from an insider known as 'DogeDesigner' has sparked excitement within the Dogecoin community. The tweet hinted at the upcoming launch of 'X Payments' and its potential impact on the payments industry and traditional banks. Dogecoin enthusiasts are hopeful that DOGE will be included as a payment option on this platform. The tweet suggested that X Payments could revolutionize the banking industry in the same way that Tesla, another of Elon Musk's companies, has disrupted the auto industry.
The X Corporation is currently securing licenses for payment processing in new U.S. states, with the payment service expected to launch by the end of the year. However, it is still uncertain whether cryptocurrencies, specifically DOGE, will be integrated into X. Elon Musk, who purchased the platform for $44 billion in October 2022, has previously expressed support for integrating Dogecoin payments on Twitter. At that time, Bitcoin and Ethereum tipping had already been enabled by then-CEO Jack Dorsey, and Musk argued that DOGE was better suited for payments than Bitcoin.
Elon Musk has repeatedly stated that neither X nor any of his other companies plan to release a native cryptocurrency, possibly to avoid potential issues with the Securities and Exchange Commission (SEC). Musk has previously clashed with the SEC in court, winning a case about 'taking Tesla private at 420.' The SEC has only labeled Bitcoin as a commodity, and in recent years, it has scrutinized crypto companies and exchanges for trading altcoins, which it considers unregistered securities. Ripple Labs has been in a legal battle with the SEC since December 2020 over whether XRP is an unregistered security. In July of last year, Judge Analisa Torres ruled that XRP sales on secondary markets do not qualify as security sales.
