I don't think Dogecoin is scared of losing access to the discount window!
They are more like a public utility that is private, but has some amount of government oversight. Controlling the ability to create money is pretty impressive and they can cut people off from that, so that is a lot of power. They can't arrest people or criminally charge people like the SEC can though.
No, but they’re scared of losing access to wire transfers. Or at least they should be. So if the Fed tells banks they can’t transact with or accept proceeds from the sale of Dogecoin they will cease transacting with and accepting proceeds that appear to be from the sale of Dogecoin. And then Doge will be well and truly fucked. You can’t get to the moon if you can’t get any money.
And for the record, the SEC can’t arrest or bring criminal charges, either. They’re civil enforcement only.
They are more like a public utility that is private, but has some amount of government oversight. Controlling the ability to create money is pretty impressive and they can cut people off from that, so that is a lot of power. They can't arrest people or criminally charge people like the SEC can though.