{"id":144704,"date":"2024-12-13T13:30:19","date_gmt":"2024-12-13T11:30:19","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144704"},"modified":"2024-12-13T13:13:59","modified_gmt":"2024-12-13T11:13:59","slug":"sec-pressures-elon-musk-with-ultimatum-in-high-stakes-legal-clash","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/sec-pressures-elon-musk-with-ultimatum-in-high-stakes-legal-clash\/","title":{"rendered":"SEC Pressures Elon Musk with Ultimatum in High-Stakes Legal Clash"},"content":{"rendered":"

At the heart of the dispute are allegations<\/a> <\/strong>of regulatory violations involving Musk’s companies, including Twitter (now X) and Neuralink. The investigation has expanded to include stock disclosure irregularities and new probes into Neuralink\u2019s operations. The SEC’s scrutiny comes amid its broader effort to enforce compliance in the tech and cryptocurrency sectors.<\/p>\n

The controversy stems from Musk’s delayed disclosure of his 9.2% stake in Twitter, a potential violation of the Hart-Scott-Rodino Act. This issue was compounded by Musk\u2019s failure to appear for an SEC testimony scheduled in May 2024, prompting the agency to seek court penalties. Meanwhile, the SEC has subpoenaed Musk\u2019s legal counsel, Alex Spiro, with further pressure to comply.<\/p>\n

Musk, in response, dismissed the SEC as a “politically weaponized institution,” fueling debate over the agency’s approach to high-profile figures and emerging technologies. Legal analysts have drawn parallels to the SEC’s actions against smaller crypto firms, highlighting the challenges of balancing innovation with regulatory oversight.<\/p>\n