There seems to be a good amount of speculation on Twitter surrounding the arrest of John McAfee.
Is the SEC purposely going after big names in Crypto? Following the recent indictments against BitMEX, there's a sentiment that it's no coincidence.
Without A Paddle
John Mcafee finds himself in a situation better know as....Up Shit Creek Without A Paddle. He launched the row boat himself and forgot to load any oars.
The charges don't look good for him. Tax evasion is the main accusation, but there's more. Failing to disclose his affiliations with several ICO's he was promoting is another.
Terms such as scalping and touting appear a few times in the official 55-page indictment. While the DOJ has him for tax evasion, the SEC is suing for touting and scalping. We might know these terms more affectionately as a pump and dump.
BitMEX May Stand A Chance
On the other hand, BitMEX has vowed to fight the SEC tooth and nail. From what I've been reading, they might not have as much to worry about as McAfee does.
No Derivatives In The UK
If police work by the SEC and DOJ wasn't enough to suggest authorities are worried, new regulations in the UK spell it out in bold letters.
From Business Insider:
"This ban reflects how seriously we view the potential harm to retail consumers in these products. Consumer protection is paramount here," Sheldon Mills, an interim executive director at the FCA, said in a statement.
I really liked the last line of this quote from the same source:
Britain's financial authority said unregulated cryptoassets are "ill-suited" to retail consumers for multiple reasons. These include unexpected losses, no reliable basis for valuation, volatility in price movements, a lack of understanding, and the absence of legitimate reasons for investment.
So we're just here for shits and giggles with no, and here's the word, LEGITIMATE reason. That's some powerfully ridiculous language. Our very reasoning is illegitimate.
More Than A Coincidence?
You know what they say about three's! Fool me once, fool me twice, fool me three times and call it a strikeout. Or something like that.
I do like the Tweets that point out how little an effect all these actions have actually had on the value of BTC. Though not much of a conspiracy theorist, the attacks on crypto appear to be out in the open. Just like John McAfee threatening acts with his private parts on live TV.
His case isn't much of a surprise to me. The others are a bit alarming on the surface, but nowhere near stifling enough to slow down BTC.
What are your thoughts on these assaults on crypto? Do you see them that way as well?
Thanks for reading and as always...
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