Massachusetts has joined the list of American States that are hostile towards Bitcoin – Secretary of the Commonwealth, policies of state William Galvin officially warned investors about the risks associated with cryptocurrency mania.
«Bitcoin is just one of the stories of speculative bubbles that often burst, leaving investors with a worthless product, he said. The fascination with bitcoin will be a disaster for them.»
According to the politician, his opinion is based on negative information about bitcoin, which is «more than enough» – and let some call it a «fantastic investment.»
According to enthusiasts of Bitcoin, the sixth point of the seven warning Galvin’s back suggests incompetence of the author – in particular, he argues that the technology of cryptocurrency – the blockchain – the «still experimental and subject to change, errors and used for criminal activities».
In his negative attitude towards bitcoin Massachusetts joins Connecticut, Georgia, new Mexico, new York and Washington, although the state has no legislation regarding the regulation of cryptocurrencies. Neighboring state – new Hampshire – adopts a different approach by actively encouraging the development of cryptocurrency industry.