Regulation
Elon Musk’s DOGE Launches Probe into US SEC, Ripple Lawsuit To End?
A new initiative linked to Dogecoin (DOGE) has launched an investigation into the U.S. Securities and Exchange Commission (SEC). The newly created @DOGE_SEC account on X aims to identify and address allegations of waste, fraud, and abuse within the regulatory agency.
This development has drawn attention from the cryptocurrency community, especially as the SEC’s lawsuit against Ripple nears its conclusion.
Elon Musk’s DOGE Launches Investigation into US SEC
The DOGE_SEC account has called on the public to provide information regarding the SEC’s actions. “DOGE is seeking help from the public! Please DM this account with insights on finding and fixing waste, fraud, and abuse,” the account posted.
This move has sparked discussions among legal and financial experts. Coinbase Chief Legal Officer Paul Grewal responded by suggesting a rule that would require the SEC to cover legal fees for defendants who successfully challenge the agency’s lawsuits. Other members of the cryptocurrency community have also voiced concerns about the SEC’s handling of certain cases, particularly its litigation against Ripple.
The SEC’s lawsuit against Ripple, which began in 2020, is additionally reaching its final stages. Ripple’s Chief Legal Officer, Stuart Alderoty, responded to the ongoing scrutiny of the SEC by stating, “I have the receipts,” implying that key documents related to the case may soon be revealed.
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Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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