Massachusetts’ Secretary of the Commonwealth William Galvin has been proponent of aggressively enforcing securities laws to digital asset firms; explaining in 2017 that bitcoin was “unregulated and ambiguous in nature … providing a fertile ground for investment scams and other financial fraud.”; now his office along with Eastern Bank in Boston, blockchain startup Arwen, legal experts, academics and others have started a fintech working group; the aim of the group is to give people a better understanding of securities laws and initially they will focus on digital assets. Source.
