August 4, 2021

SEC accuses Elon Musk of the DOGE pump

SEC accuses Elon Musk of the DOGE pump

Elon Musk once again caught the attention of the SEC with his tweets about Dogecoin (DOGE).

Elon's tweets A mask containing memes, pictures and mentions of Dogecoin is considered by the agency as a pump of an asset.

Publicly traded companies are regulatedagency, and cannot provide predictions about the share price. However, DOGE is not a stock, so Musk's tweets were unlikely to violate any law or regulation.

Elon Musk has had clashes with the SEC before. At one point, the proceedings with the commission forced him to resign from the post of the Tesla board of directors.

This month Musk's tweeter was almost entirely about DOGE. After almost every publication, the price of DOGE soared by several percent (or tens of percent).

The SEC has not yet officially confirmed or denied information about the charges against the head of Tesla.

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