John McAfee in a suit and tie, behind him the U.S. Securities and Exchange Commission logo

SEC Prompts John McAfree to Back Down from ICOs, for now

Jun 20, 2018, 8:43AM
1 min, 20 sec READ

Crypto enthusiast and potential Presidential nominee John McAfee announced a coming neutral stance with ICOs following threats from the SEC.

Perspective 2020 presidential nominee John McAfee is shedding his connection to various initial coin offerings (ICO) amidst threats from the Securities and Exchange Commission (SEC). Earlier this month, the founder of McAfee Anti-Virus announced his intent to run a pro-cryptocurrency platform in the next campaign cycle. The SEC stated that all ICOs would be treated as securities shortly after, prompting McAfee to "submit" to "their rules" with a promise that it would be temporary.

McAfee's agreement to subside from involvement and recommendations was limited to that line, though. It took less than two hours for him to Tweet the SEC Chairman John Clayton's contact information, imploring followers to influence Clayton towards a public debate. In the nearly two weeks since this incident, McAfee has apparently been subject to enough undue influence from the SEC to reaffirm his independent position on ICOs. The act comes with McAfee's trademark cavalier attitude via his Twitter account. 

John McAfee's tweet regarding SEC threats regarding ICOs

With over 800 accounts blocked on his account, McAfee's sharp response is likely not going to be sustained. The necessary doubling down of his non-impact position with ICOs implies that he may not have stood by his initial agreement to submit to "their rules". He has most recently been tied to Docademic (MTC) and ridiculing early sellers, projecting potential profits of epic proportions moving forward. Those interested in what is to come will want to keep an eye out for McAfee's coming article about the equivalent alternative to an ICO.

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.