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

[Malam90]

Elon Musk’s rampant Twitter activity could get him into hot water with the SEC according to lawyers.
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 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:

"It would not be surprising—given the focus on the chief executive's Tweets, Bitcoin pricing and recent dramatic market moves—for the SEC to ask questions about the facts and circumstances here,"
Former vice president of the European Central Bank, Vitor Constâncio, echoed the sentiment concluding that the “SEC will look into this,”  Source Link