ICYMI: ‘SEC threats’ cause John McAfee to make a U-Turn on ICOs

John McAfee, one of the most renowned and powerful advocates for ICOs and crypto-economy has taken the opposite approach on ICOs in the wake of SEC [U.S. Securities and Exchange Commission] threats, as mentioned in his tweet posted today.

In his tweet, McAfee has clearly mentioned his disassociation with ICOs to the point where he no more recommends them to his crypto-fans. McAfee has also hinted toward arrest of those involved in any ICO-related activities. However, the nature of the mentioned threats is yet unclear and demands more clarity.

John McAfee’s recent Tweet | Source: Twitter

This is not the first time that the heat between SEC and John McAfee has surfaced. It was not long ago when McAfee challenged Jay Clayton, the Chairman of SEC to take a seat in a cryptocurrency debate with him on CNN after Clayton’s statement that reads:

“Replace the dollar, the yen, the euro with Bitcoin. That type of currency is not a security.. Where I give you my money and you go off and make a venture… and in return for me giving you my money, you say, ‘You know what, I’m going to give you a return.’ That is a security, and we regulate that. We regulate the offering of that security, and we regulate the trading of that security.”

SEC, in its official statements, had triggered agitation among crypto-community; and McAfee went ballistic with his tweets on the issue.

McAfee’s Tweet post SEC’s statement | Source: Twitter

NULSKing, an active crypto-investor on today’s tweet responded:

“We got scammed so many times by those ICOs”

Another crypto-investor and Bitcoin supporter, Truthraider.com said:

“I don’t understand why they can’t produce a 1-2 page legal document with rules that are easy to follow for this industry.”

The post ICYMI: ‘SEC threats’ cause John McAfee to make a U-Turn on ICOs appeared first on AMBCrypto.