There is no doubt that regulatory matters have long been one of the cryptocurrency industry’s biggest issues. In such a fast-moving and innovative area, it is no surprise that lawmakers have struggled to keep up. This has led to frustration for the public, as well as for the industry innovators who are unsure how to proceed.
However, there is a new sense of hope on the horizon. This is because it has been revealed that Massachusetts authorities are working to make new crypto laws that should ultimately make it easier to invest in Bitcoin and other digital currencies like Ethereum’s ETH token.
The Current Situation in Massachusetts
William Galvin is the chief security regulator in the state and he is known for his no-nonsense approach to ICOs, as well as his claim that the Bitcoin currency doesn’t “pass the smell test”.
The legislators in Massachusetts are regarded as being not particularly welcoming to cryptocurrencies. Bitcoin has been described as a bubble and “worthless” by Galvin. In addition, the crypto…