Bitcoin market is “entirely speculation” – Massachusetts Securities Regulator

North America Regulations United States

The Secretary of the Commonwealth William Galvin told CNBC that the bitcoin market “doesn’t pass the smell test,” and is nothing more than speculation. He also warned that the market is subject to manipulation, no one controls it or can explain it.

In a press release issued earlier this month, Galvin urged caution in the face of “bitcoin mania,” and listed seven issues to consider before buying into bitcoin such as the volatility of the price and exchange fees.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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