Meme Crypto Shouldn't Be Labeled Securities by Dogecoin Creator

Billy Markus, a co-founder of Dogecoin DOGE/USD-0.30%+ Free Alerts, stated on Monday that if Bitcoin BTC/USD-1.30%+ Free Alerts isn't regarded as a security, then the same should hold true for Dogecoin.

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What Happened: Tech entrepreneur and investor Jason Calacanis remarked that "if people had just treated s**tcoins as securities, we would have spared 10 straight tiresome crypto arguments over Thanksgiving dinner." Nakamoto responded to Calacanis on Twitter.

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This declaration follows Gary Gensler's Sunday interview with New York Magazine, where he classified all cryptocurrencies other than Bitcoin as "securities."

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In response to Jason's tweet, a co-founder of Dogecoin stated that "if bitcoin isn't a security then dogecoin shouldn't be either." He also added that "dogecoin was made for lulz with no premine, no sales, and no one regulating it."

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Price movement: According to Trade Algo, at the time of writing, DOGE was trading at $0.082, up 0.42% over the previous 24 hours.