John McAfee Notions at the SEC Losing its First Legal Battle Against Blockchain Crypto Assets

John McAfee, one of the most recognized figures in the cryptocurrency space has given his opinion regarding the U.S. Securities and Exchange Commission (SEC) and virtual currencies.

In a recent tweet uploaded by McAfee, he said that the SEC has lost its first legal battle in its unlawful quest to regulate the crypto market.

 

In another Tweet, he mentioned that the SEC is a corrupt agency that been put down by the justice system. At the same time, he said that the SEC should be shut down in order to benefit Americans.

McAfee is making reference to the decision of a court in the United States that dismissed claims from the SEC against the decentralized exchange (DEX) Blockvest. The SEC decided to suspend Blockvest’s Initial Coin Offering (ICO) explaining that the DEX was selling unregistered securities.

The SEC has also recently issued two enforcement actions against two ICOS, Paragon and Airfox. Both of them will have to pay a fine of $250,000 and give investors their money back in case it’s requested.

Regarding the virtual currency market, Bitcoin has lost around 35% of its price since the beginning of November. The same happened to other virtual currencies in the market. Since its all-time high, Bitcoin is being traded more than 80% down. Mr. McAfee mentioned that Bitcoin being traded above $4,000 is a positive sign.

Mike Novogratz’s Galaxy Digital has also shared a letter with its clients informing that the new crypto market action could be very positive for the space. It could be a turning point after months of being in a bear trend.

McAfee has been supporting different projects in the space and fighting for the cryptocurrency market. He has been defending virtual currencies against the aggression of other individuals and has always given his opinion about Bitcoin. It is important to remember that he said that Bitcoin would be traded close to $1 million by the end of 2020.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,478FansLike
2,795FollowersFollow
4,200FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Market Wrap: Bitcoin Never Going to Zero, Philanthropist Giving Away Money to Buy BTC

This week, the price of bitcoin moved, although it continues to trade in a tight range and is still hovering around $9,200 on low...

Bearish Catalysts for Bitcoin Price

This week, Bitcoin is ranging between $9,050 and $9,500. Currently, we are trading just above $9,200 after yesterday, Bitcoin’s price dropped $150 in seconds...

The Good and Bad of the Crypto Going Public

This week, big news came in the form of crypto businesses that are planning to go public either later this year or next year. Crypto...

US Secret Service Has Modernized Its Role in Tackling Financial Crimes in The Crypto Era

The role of the US Secret Service, whose purpose extends from protecting the US President Trump to protecting the US financial systems, has...

Bitcoin is in a ‘Consolidation Zone,' We’ll Move to $14,000 Once BTC Gets Above $10k: Mike Novogratz

Bitcoin is about system change, said Mike Novogratz, CEO of Galaxy Digital, in his latest interview with Barron’s Carleton English. While talking about the catalysts...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today