Elon Musk is facing legal proceedings from the U.S. Securities and Exchange Commission (SEC) for failing to comply with a subpoena. The SEC is investigating whether Musk violated federal securities law with his Twitter purchase last year. The regulator has requested Musk’s testimony to obtain information relevant to its investigation. Musk had agreed to testify in September 2023, but raised objections two days before his scheduled testimony. The SEC has filed an application for an order to compel Musk’s compliance. Musk has ambitious plans for the company now branded as X, but has not clarified whether Twitter’s payment features might involve cryptocurrency. The implications of this development on both the tech and financial industries remain to be seen.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	10
People	Elon Musk, U.S. District Court for the Northern District of California, SEC
Companies	SEC, NORAD, U.S. District Court for the Northern District of California, U.S. Securities and Exchange Commission, USNORTHCOM
Currencies	None
Securities	None