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.
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.” […]