We have already introduced an impulsive cryptocurrency enthusiast John McAfee to you in the articles about his promise to eat his own private parts if the price of Bitcoin is less than $1 million by 2020, his intentions to launch his own fiat cryptocurrency and plans to run for the post of the United States of America. Nevertheless, he continues to surpise us with his eccentric statements.
According to McAfee, he will no longer promote or support ICO projects on his social media, and the reason for this is the US Securities and Exchange Commission.
He believes that the SEC is going to destroy this industry completely and put those involved in it to jail. McAfee also mentioned that he would be looking for a substitute, because ICO has no future whatsoever.
Due to SEC threats, I am no longer working with ICOs nor am I recommending them, and those doing ICOs can all look forward to arrest. It is unjust but it is reality. I am writing an article on an equivalent alternative to ICOs which the SEC cannot touch. Please have Patience.
— John McAfee (@officialmcafee) June 19, 2018
Though being overly dramatic, McAfee has a point. The SEC has been recently restricting the cryptocurrency world more and more. It has put out a lot of regulations for projects and cryptocurrency exchanges which might negatively affect their operations.
We would like to remind you that the SEC has given most of ICO tokens an official status of securities which means that the projects issuing them will now be under close observation.
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