<ul><li>The top Democrat on the US House Financial Services Committee warned that giving Tesla CEO Elon Musk access to data and systems at the Securities and Exchange Commission (SEC) could have dire consequences for US investors and present conflicts of interest.</li><li>Representative Maxine Waters emphasized the risk of data breaches and market disruptions that could result in investors losing their savings due to Musk's potential influence over the agency's operations.</li><li>Reports suggest that Musk's Department of Government Efficiency team has contacted the SEC and might be granted access to the commission's systems and data.</li><li>The SEC is responsible for overseeing and regulating the cryptocurrency industry, including determining whether certain tokens qualify as securities.</li></ul>

‘Dire consequences’ if Musk accesses SEC — US lawmaker

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