Earlier in June, he challenged SEC chairman, Jay Clayton, to a debate over the status of ICO tokens. The SEC previously issued warnings to celebrities who endorse cryptocurrency ICO projects. According to the regulatory agency, such endorsements might be unlawful — especially in the absence of full disclosure of direct/indirect compensation on the part of the celebrity in question.
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.
Despite being a polarizing and controversial figure, McAfee is a major figure within the industry. According to his “cryptocurrency team,” McAfee’s ICO endorsement tweets are prolific, with only one tweet capable of attracting millions of dollars in investments.
