Pudgy Penguins has announced its participation in a federal advisory group focused on shaping policy in cryptocurrency and digital assets, marking a significant move for a meme-born asset.
Pudgy Penguins' Participation in Federal Group
The Pudgy Penguins team stated that representatives have met with the Trump administration multiple times over the past three months. They have now been formally invited to help shape virtual asset legislation as part of the advisory body.
Impact on Virtual Asset Legislation
This participation indicates a significant development for meme-associated assets in Washington. It is expected that this could influence future regulatory decisions on cryptocurrencies.
Crypto Market and PENGU's Rise
The announcement coincides with the U.S. Securities and Exchange Commission (SEC) beginning to review a spot ETF application for PENGU filed by Canary Capital. Expectations for approval have gained momentum, which has led to a 120% increase in PENGU's price over the last month, with the token currently trading around $0.033.
Pudgy Penguins' inclusion in the federal policy-making group highlights the growing attention to cryptocurrencies in official circles and may positively impact future sector regulation.
