Skip to content

Blockchain News Feed

All the latest news on Blockchain & Cryptocurrencies

Menu
  • Home
  • News
  • Exchanges
  • Market Analysis
  • YouTube
  • Brave Browser
Menu

John McAfee Will Fight SEC ‘With Every Last Breath’

Posted on juni 16, 2018 by Blockchain News

John McAfee, one of the most opinionated figures in the cryptocurrency community, has clashed with US Securities and Exchange Commission’s (SEC) chairman over the labeling of initial coin offering (ICO) tokens as securities. Speaking via his Twitter account, the tech activist and internet security expert vowed to fight the SEC’s pronouncement.


McAfee on the Warpath

John McAfee is usually not shy when expressing his views.

Ever since Securities and Exchange Commission (SEC) chairman Jay Clayton said that he considers most ICO tokens to be securities, McAfee has launched multiple tirades on social media.

Earlier in June, Clayton said in an interview that, except for digital currencies like Bitcoin, all other cryptocurrencies were securities. At an SEC public forum on June 14, Clayton reiterated the same position, stating:

Much of what I have seen in the ICO or token or ICO space, is a security offering. I don’t know how much [clearer] I can be about it.

“All ICOs are Securities”!
.
I will not now, nor will I ever, accept this as a reality. I am submitting, now, to this law, but I will fight with every last breath to ensure that this absurd overreach by the SEC will not stand!! It will not stand!https://t.co/7l2l8pryPh

— John McAfee (@officialmcafee) June 14, 2018

According to McAfee, such a characterization is an “absurd overreach” — one he aims to fight with “every last breath.”

It is unclear, however, how the ex-internet security magnate hopes to prosecute his campaign against the SEC. Most of his Twitter rants on the matter have centered on public debates with the SEC, throwing the gauntlet down to Clayton.

Still, despite his vociferous opposition to the SEC chairman’s pronouncement, McAfee says, for now, he is “submitting to the law.”

Are ICOs Securities?

In the still-developing cryptocurrency narrative, there are quite a few areas where there remains no consensus among stakeholders. One such area is whether or not ICOs should be regarded as securities.

This particular argument stems from the inability to precisely define what cryptocurrency tokens are. According to the SEC, tokens like Bitcoin — digital currencies that are substituted for fiat — are not securities.

The majority of the over 1,600 cryptocurrencies, however, are not fiat substitutes. They are tokens that provide access to a digital platform. Hence, many crypto-purists elect to call them utility tokens. However, the SEC disagrees — instead claiming that these tokens raise capital via a public sale and can be sold on a secondary market, thus classifying them as securities.

It's the SEC Stupid…

In a recent development, a top SEC official declared that ether is not a security. There is still no official word on the status of Ripple (XRP).

Do you think the majority of ICOs are selling securities? Share your opinions in the comment section below! 


Images courtesy of Shutterstock, Twitter/@officialmcafee.

The post John McAfee Will Fight SEC ‘With Every Last Breath’ appeared first on Bitcoinist.com.


Source: Bitcoinist.com
Original Post: John McAfee Will Fight SEC ‘With Every Last Breath’

Ledger Nano X - The secure hardware wallet

Recente berichten

  • PEPE koers verliest 15 procent in zeven dagen tijd
  • Avorak AI explores cross-chain integration on Ethereum network
  • Mining difficulty passes 50 trillion — 5 things to know in Bitcoin this week
  • Gemini and Bankrupt Lender Genesis Asks U.S. Court to Dismiss SEC Lawsuit Targeting Earn Program
  • BNB NFT marketplace Tabi raises $10M in angel funding

Categorieën

  • Altcoin Buzz
  • Altcoin Buzz News
  • AMBcrypto
  • Bitcoin.com
  • Bitcoinist
  • BTC Manager
  • CCN
  • Coin Mastery
  • Coindesk
  • Coinpower News
  • Cointelegraph
  • CryproSlate
  • Crypto Daily
  • Crypto News (.net)
  • Cryptocoin News
  • Cryptocurrency News
  • CryptoDaily.co.uk
  • CryptoPotato
  • CryptosRUs
  • Daily HODL
  • DataDash
  • Ethereum Worldnews
  • Exchanges
  • ICO's
  • Invest in Blockchain
  • Market Analysis
  • News
  • News BTC
  • Newsbit
  • Portfolio
  • Pricecheck
  • Ready Set Crypto
  • The Modern Investor
  • ToshiTimes
  • Use The Bitcoin

Archieven

  • mei 2023
  • april 2023
  • maart 2023
  • februari 2023
  • januari 2023
  • december 2022
  • november 2022
  • oktober 2022
  • september 2022
  • augustus 2022
  • juli 2022
  • juni 2022
  • mei 2022
  • april 2022
  • maart 2022
  • februari 2022
  • januari 2022
  • december 2021
  • november 2021
  • oktober 2021
  • september 2021
  • augustus 2021
  • juli 2021
  • juni 2021
  • mei 2021
  • april 2021
  • maart 2021
  • februari 2021
  • januari 2021
  • december 2020
  • november 2020
  • oktober 2020
  • september 2020
  • augustus 2020
  • juli 2020
  • juni 2020
  • mei 2020
  • april 2020
  • maart 2020
  • februari 2020
  • januari 2020
  • december 2019
  • november 2019
  • oktober 2019
  • september 2019
  • augustus 2019
  • juli 2019
  • juni 2019
  • mei 2019
  • april 2019
  • maart 2019
  • februari 2019
  • januari 2019
  • december 2018
  • november 2018
  • oktober 2018
  • september 2018
  • augustus 2018
  • juli 2018
  • juni 2018
  • mei 2018
  • april 2018
  • maart 2018
  • februari 2018
  • januari 2018
  • december 2017
  • november 2017
  • oktober 2017
  • september 2017
  • maart 2017
  • juni 2016
  • juli 2014
  • september 2013
  • augustus 2013
©2023 Blockchain News Feed | Design: Newspaperly WordPress Theme