John McAfee, the 72 year old British American computer scientist who started out as a programmer at NASA in the 70s, has challenged the Securities and Exchanges Commission (SEC) to a televised debate over a statement by Jay Clayton, the Trump appointed SEC chair, that all ICOs are a security.
“I challenge the SEC to debate me on CNN. I debated the FBI two years ago when they overstepped their bounds. You, the SEC, have overstepped your bounds,” McAfee says before adding:
“7 days after my CNN debate with the FBI, the FBI dropped their demand that Aplle [sic] give them a backdoor. I promise that if the SEC @SEC_News accepts my offer to debate them, they will stop their insistence that ICOs are secutities.”
Around two years ago, FBI suggested Apple should have a backdoor for the FBI through a master key. In a very effective argument during a brief debate on CNN, McAfee said FBI had been hacked by a kid just a few weeks ago, there was no way this master-key would not be hacked and revealed to all, he said.
What he would say in a debate with SEC is unclear at this stage. We would like to hear it, for although there is plenty of controversy around McAfee the man, he is one of the few who was here when this digital revolution began in the 70s.
“Overreach of power is the worst of all corruption,” he said after adding that he strongly disagrees with what he says is a declaration by “the head of the SEC.. that all ICOs are securities.”
“I STRONGLY disagree, and believe that the majority of ICOs do not meet the Suprene Court Howey Test for securities,” he said.
Suprene. The British American can be very articulate when he wants to, with McAfee to now even potentially run for president in 2020. Trump would find that a very easy ride we should think, with 2024 giving a better chance, but a far older age for McAfee.
He remains, however, very influential, and when he speaks in matters of computer security, people stand and listen for few can claim the decades long perspective this man still has.
As such, a debate would be in the interest of the public in our view because so far this has been only SEC talking, a very one way street, with no public consultation, no challenge whatever in the wider media, to the point Clayton was not even properly questioned on CNBC regarding whether eth is or is not a security.
It is because of this one way street that the public continues to lose trust in the political process and in the mainstream media which often is seen as a mere propaganda arm of unelected bureaucrats who go around making laws without any real congressional oversight or public input.
“Economic elites know all this. They will not be idle. This is what I mean by a powerful danger. If the kleptocracy controls technology and the means of distribution, then they simply accumulate more wealth at the expense of their citizens, draining wealth in cryptocurrencies rather than dollars or euros.” – CFTC Commissioner Rostin Behnam, June 4th, United Nations.