Ripple lawyer warned Elon Musk to avoid SEC trouble by promoting Dogecoin (DOGE). This warning comes months after Elon Musk announced that the popular meme coin could be used to buy Tesla products, including electric cars and other accessories.
Ripple lawyer warns Musk
Attorney Deaton does not want the Tesla boss to be a victim of the US Securities and Exchange Commission (SEC). Ripple v. Lawyer John Deaton, an outspoken attorney in the SEC case, has warned Tesla CEO and founder Elon Musk to be careful not to get in trouble with the Securities and Exchange Commission, following his massive support for Dogecoin (DOGE). In a tweet today, attorney Deaton warned the Tesla executive in response to an XRP holder who mentioned Musk’s influence on the popular memecoin. Twitter user using the username @JayBlessed901 complained about the double standard of the security agency SEC, which sued Ripple for allegedly violating US securities laws, and said:
Elon tweets about DOGE and Ripple has deals with almost every major financial institution and XRP is still under pressure as Gary Gensler is holding them hostage. Thank you for your protection, Gary. Replying to the
Tweet, attorney Deaton urged Musk to be cautious as he continues to promote widespread adoption of Dogecoin because the SEC will one day consider cryptocurrency just like Ripple’s. It can declare a “security” as it does with its XRP. If that happens, both Musk and his companies have suggested that Tesla and SpaceX could be accused of violating securities laws.
SpaceX will accept DOGE
John’s response came after Elon Musk’s announcement yesterday that SpaceX confirmed that it will soon accept Dogecoin for products, as we reported on Kriptokoin.com . Elon Musk’s announcement comes a few months after Musk announced that the popular meme coin could be used to buy Tesla products, including electric cars and other accessories.
Attorney Deaton’s warning, ongoing Ripple v. SEC relies on litigation developments. Recently, Ripple v. Attorney Deaton, who has filed a request to represent more than 67,000 XRP holders in the SEC lawsuit, only expresses concern about keeping Musk away from the SEC’s charges.
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