McAfee Says Adios to ICOs – Bows to SEC Threats, Eliminates ICO Activities
When McAfee says adios to ICOs that’s really saying something. He baffled and bluffed Belize law enforcement. He showed guile in Guatemala and returned to the US despite a pretty tight dragnet. But Mr. McAfee realizes when he’s outgunned and outnumbered vis a vis the SEC. This Tweet yesterday says it all…
So what did the SEC say that forced McAfee to Say Adios to ICOS ? Details aren’t available at this time but we suspect a cease and desist letter. Since there aren’t clear laws or policies where ICOs are concerned with either the SEC or the FTC, we can only speculate that Mr. McAfee received a very stern letter from the SEC which probably said something to the effect of “Knock it off!”
McAfee’s cryptic comment about an ICO alternative is intriguing. He has shown a capacity for innovation and brilliance so we can be sure of a fantastic new idea. What it might be and how it could sidestep existing laws remains to be seen. The only thing clear right now is that McAfee Says Adios to ICOs under legal pressure. This should worry everyone and anyone where ICOs are concerned especially the ominous warning from McAfee that anyone doing ICOs “can all look forward to arrest.”
No one should be surprised by a legal crackdown on ICOs. Exit scams have cost investors millions upon millions of dollars through cloned white papers, stolen identities and out-and-out deception from would-be ICO issuers touting their new coin’s usefulness, expected wide acceptance, etc. while promising ICO issuance bonuses intended to entice even the most cynical ICO investor.
While McAfee Says Adios to ICOs he also said he is staying very involved in the cryptocoin markets themselves. He’s still an ardent supporter of Bitcoin and his unwavering support and endorsement of Bitcoin should be carefully noted.