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How John Mcafee is helping the entire crypto industry.

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Various circumstances which process that McAfee is a great cryptocurrency supporter.

Introduction

John David McAfee is undoubtedly the most influential figures in the cryptocurrency industry. Having been in constant fights with a number of financial regulators around the world. John McAfee has always stood by the cryptocurrencies side and has been constantly supporting them.

 

Founder of McAfee Associates, one of the most popular antivirus software firm, John Mcafee has plunged into the cryptocurrency domain and has constantly been in the Crypto news since his inception in the field. There are a number of instances where he has taken a firm stance, against the financial companies, some of them explained below.

Boycotting of RBI

Back in April 2018, The Reserve Bank of India had issued an official statement, stating a complete ban on the all the Financial Institutions which were related to the cryptocurrency transactions. It had given the companies a 3 month time window to stop all the functions related to the cryptocurrencies.

 

Recently on July 5th, the time window expired, and all the cryptocurrency operations were seized in the country. Many bank accounts were reported to be closed. Commenting on this incident the Crypto supporter John McAfee expressed his anger against the Reserve Bank of India and called for a complete boycott of the RBI. India is a developing country where the virtual currencies are striving hard to sustain in the country’s financial economy. Such decisions from the financial regulator of the country are really disheartening for all the Crypto enthusiasts in the country.

John Mcafee Boycotting HitBTC

HitBTC is one of the largest cryptocurrency trading platforms with more than 700 trading pairs to choose from. The daily trading volume being more than $250 million helps in providing high amounts of liquidity to the cryptocurrency market throughout the world.

 

The cryptocurrency exchange was reportedly held responsible for a delayed settlement of the transactions and sometimes this delay spanned for weeks together. It is even reported that some of the transactions were canceled by the exchange due to some circumstances.

 

The users with their MTC coins on the Crypto exchange were not able to withdraw the coins due to these problems, resulting in the non receival of the Airdrops offered by the Docademic, a cryptocurrency which was initiated by 2 medical students to provide Healthcare and Medical Services to the poverty-stricken people all around the world.  

 

Due to this careless attitude by the crypto exchange, John McAfee retaliated through Twitter and called for a complete boycott, until it promised to change its values and principles.

Differences with SEC

The Crypto Crusader has constantly been in a controversy with the Securities and Exchange Commission where there are claims being made by John McAfee through posting his own videos on the Internet, where he reveals that he was constantly being threatened by the commission for supporting the cryptocurrency space.

 

Specifically the Initial Coin Offerings, he was forced by the SEC to spread a message across his followers to avoid Initial Coin Offerings. But being a strong Crypto supporter he has also assured his followers that he would be coming up with an alternative for the Initial Coin Offerings, where it wouldn’t fall under the jurisdiction of the SEC. He has also claimed that he would be contesting for the post of president in the next US elections to support the Crypto space as much as possible.

 

There has also been contention between them, regarding the consideration of the tokens to be security tokens by the commission. The contention escalated so much that John McAfee called for an open public debate with the chairperson of the SEC, Jay Clayton regarding the issue.

Conclusion

John McAfee has been constantly been predicting the cryptocurrency market prices he once had said that Bitcoin could reach a value of almost $1 million someday. Constant threats from the Securities and Exchange Commission, towards one of the most famous Crypto enthusiast, is really not acceptable, as America is one of the biggest democracies in the world. Conditions where a financial institution is openly frightening a person for his life, the legal authorities of United States can’t shrug their shoulders at the matter.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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