Elon Musk Gets Warning about Dogecoin and SEC from Crypto-Law Founder

05/28 11:54

According to u.today, founder of Crypto-Law, John Deaton, has tagged Elon Musk in a recent tweet, warning the billionaire that his frequent tweets promoting Dogecoin may get him is the same legal trouble as Ripple and XRP token. John Deaton responded to a tweet of a person with a Twitter nickname @JayBlessed901. The latter wrote sort of complained about the unfairness of the SEC chairman Gary Gensler’s long-lasting suit against Ripple – a company that has over 300 large financial institutions among customers outside the US, while Elon Musk drives the DOGE price up with his tweets freely. John Deaton believes that Gensler and the SEC may identify Dogecoin as an investment contract with Musk and his companies. However, it seems that the so-called Elon Musk effect on the Dogecoin price is going out of existence. Earlier this week, Musk’s tweet was about to push DOGE up for not longer than around 23 seconds
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