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Cryptoassets & Blockchain Legal News

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United States

Bitcoin market is “entirely speculation” – Massachusetts Securities Regulator

December 28, 2017 by Ashley MAO

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.

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Ashley MAO, Coinlaw

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Ashley MAO is a member of the Coinlaw team. Read more about our team.

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