The U.S. Securities and Exchanges Fee fined an affiliate of John McAfee because of a supposed Preliminary Coin Providing rip-off.
What Occurred: The SEC has handed a judgement towards Jimmy Gale Watson prohibiting him from buying, promoting, or advertising digital belongings or currencies inside skilled boundaries. The SEC additional fined Watson over $375,000.
It was additionally revealed that Watson helped McAfee in cashing out sure crypto funds obtained by them.
Additionally Learn: Ethereum Outshines Bitcoin, Dogecoin In Crypto Surge: Is Second-Largest Coin On A ‘Hopium’ Trip?
The SEC additional accused each Watson and McAfee of partaking in promotional campaigns for pump and dump schemes for quite a few cryptocurrency tokens.
Regardless of this current judgement handed, Watson continues to be in a position to personally buy and promote cryptocurrencies. Thus, because the cryptocurrency sector continues to develop globally and intertwine itself with quite a few industries, the regulatory oversight upon monetary transaction is prone to additional tightens.
