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Lawyers warn Elon Musk’s Bitcoin tweets could attract SEC’s ire

Legal advisors have warned that Tesla chief executive Elon Musk could come under scrutiny from the U.S. Security and Exchange Commission over his social media activity and public statements around Bitcoin.

On Monday, Feb. 8 Tesla announced in an SEC filing that it had purchased $1.5 billion worth of Bitcoin and will soon start accepting BTC payments. Shortly afterwards, prices of the asset skyrocketed to a new all-time high of a little over $48,000.

Partner at Linklaters and former branch chief of the SEC’s division of enforcement, Doug Davison, told the UK’s Telegraph newspaper:

Former vice president of the European Central Bank, Vitor Constâncio, echoed the sentiment concluding that the “SEC will look into this,”

The SEC and the Commodity Futures Trading Commission have the ability to investigate should they suspect market manipulation. Read from source….