The Dogecoin (DOGE) memecoin rate rose by 13% 15 minutes after the announcement of the launch of the official website of the US Department of Government Efficiency (DOGE). On January 21, Dogecoin closed with a daily gain of 4.5%.

For now, the agency's website consists of a single page, with a logo in the center featuring the Dogecoin symbol of Kabosu the dog, a dollar sign, and the words "People voted for major reform."

The official @DOGE website is now live and uses the $DOGE logo, trader Cas Abbe commented on the launch.

According to crypto analysts, the use of the Dogecoin logo on the federal agency's website, even as a joke, further legitimizes the memecoin, its value and recognition. In addition, this step has had a positive effect on the cryptocurrency's value.

"The US government is now officially pushing memecoins and you still think there won't be a memecoin supercycle," added Cas Abbe.

Interestingly, it wasn't just Dogecoin that benefited from the launch of the DOGE website. A similarly named token, Department Of Government Efficiency (dogegov.com), has risen in price by 15% in the last 24 hours.

Donald Trump signed an executive order creating the Department, which aims to “restore competence and effectiveness to the federal government,” immediately after the inauguration ceremony.

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Jeremy Allaire explained that with the advent of “cryptocurrency reforms,” banks could freely trade digital assets, hold them in their investment portfolios, offer wealthy clients investments in them, and provide custody services.

Circle CEO expects the SEC's proposed accounting amendment SAB-121 to be repealed. The amendment requires companies that hold cryptocurrencies to report them as financial liabilities. Because of SAB-121, banks, financial institutions, and corporations fear being penalized for even holding crypto assets on their balance sheets.

Allaire also expects Congress to begin drafting cryptocurrency regulations in the coming weeks. He hopes that after four years of Joe Biden's hostile policies toward the crypto industry, the new Trump administration will be more lenient toward industry companies.

In early December, Trump appointed cryptocurrency-friendly Paul Atkins as SEC chairman. Trump also promised to create a new position of “crypto czar,” to be filled by former PayPal (NASDAQ: PYPL ) COO David Sacks. One of his main tasks is expected to be developing a regulatory framework for crypto assets.

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Binance promised that it is committed to complying with the country's laws.
Binance served users in Uzbekistan until the fall of 2023, when the regulator approved the procedure for obtaining licenses for working with cryptocurrencies, sued the exchange for operating without permission, and issued a fine.

💬“The exchange will simplify user operations through local partner COINPAY, allowing deposits and withdrawals in national currency through local payment systems,” the crypto exchange reported.

Representatives of the NAPP clarified that the launch of the exchange will take place after the integration with national payment systems is completed.

Earlier in Uzbekistan, the creators of the Web3Eco project tokenized the rights to profits from the sale of trees from plantations. Digital rights to plants are sold on the Web3Eco platform for their own utility token ERA.

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