John McAfee, one of the opinionated figures within the cryptocurrency group, has clashed with US Securities and Alternate Fee’s (SEC) chairman over the labeling of preliminary coin providing (ICO) tokens as securities. Talking through his Twitter account, the tech activist and web safety knowledgeable vowed to combat the SEC’s pronouncement.
McAfee on the Warpath
John McAfee is often not shy when expressing his views.
Ever since Securities and Alternate Fee (SEC) chairman Jay Clayton stated that he considers most ICO tokens to be securities, McAfee has launched a number of tirades on social media.
Earlier in June, Clayton stated in an interview that, apart from digital currencies like Bitcoin, all different cryptocurrencies have been securities. At an SEC public discussion board on June 14, Clayton reiterated the identical place, stating:
A lot of what I’ve seen within the ICO or token or ICO area, is a safety providing. I don’t know the way a lot [clearer] I will be about it.
"All ICOs are Securities"!
I can’t now, nor will I ever, settle for this as a actuality. I’m submitting, now, to this regulation, however I’ll combat with each final breath to make sure that this absurd overreach by the SEC won’t stand!! It won’t stand!https://t.co/7l2l8pryPh
— John McAfee (@officialmcafee) June 14, 2018
In line with McAfee, such a characterization is an “absurd overreach” — one he goals to combat with “each final breath.”
It’s unclear, nevertheless, how the ex-internet safety magnate hopes to prosecute his marketing campaign in opposition to the SEC. Most of his Twitter rants on the matter have centered on public debates with the SEC, throwing the gauntlet all the way down to Clayton.
Nonetheless, regardless of his vociferous opposition to the SEC chairman’s pronouncement, McAfee says, for now, he’s “submitting to the regulation.”