John McAfee Will Stop ICO Promotion Services - The cybersecurity pioneer and eccentric digital currency advocate John McAfee, who has long been a digital token promoter has revealed today that he will not promote ICO anymore because of the perceived "threat" of the Securities and Exchange Commission. Mcafee revealed this through social media on his Twitter hand.
SEC's latest decision on Cryptocurrency puts the market under further scrutiny
Famous figure in the crypto ecosystem, tweeted this morning to his followers (who are about 828,000 in number) about his decision to stop promoting ICO. Mcafee said: "I will fully control my ICO recommendations and promotions."
While crypto-advocate experts and cyber security experts were initially well-known for their well-known antivirus software designs in the early 90s, it has shifted its ambitions to various pursuits and projects. In recent years, Mcafee became a leading proponent of cryptocurrency and is widely considered within the Blockchain community.
Usually enthusiastic about the cause of the wider digital currency and its role in the decentralized and libertarian future that he imagined, McAfee also offers ICO regular recommendations. In March, he tweeted a link showing that he was paid 105,000 USD to promote ICO.
While the SEC offered much needed aid to the cryptocurrency industry last week with its comments, comments made by the commission also put the ICO market under further scrutiny. With this announcement plus the seemingly endless number of ICO scams popping up, the promoter's role paid to advertise cryptos seems to have become increasingly precarious. Some even suggest that the promoter may operate as an unregistered broker.
Although McAfee refuses to determine exactly the "threat" nature of the SEC, this move from what is arguably one of the most famous individuals in the digital currency space will be regarded by many as an indication of the unpredictable direction in which initial market coin offerings are heading .