13 Aug '13, 6pm

Senate committee wants to know how the feds are handling Bitcoin, too

In just one day, sources revealed , New York state regulators subpoenaed 22 Bitcoin-related companies, and a United States Senate committee wrote a letter (PDF) to the Department of Homeland Security asking for “policies, procedures, guidance, or advisories” pertaining to Bitcoin. The letter from the Senate Homeland Security and Government Affairs Committee—dated Monday, August 12, 2013 but published on its website on Tuesday—cites an ongoing case in Texas involving Bitcoin Savings and Trust (BTCST). The BTCST was a virtual Bitcoin-based hedge fund that many suspected of being a scam. Earlier this month, a federal judge declared Bitcoin a “currency” and subject to relevant financial regulations. The committee’s letter also asks for: information related to any ongoing coordination of your agency with any other federal agencies or state and local governments related to the t...

Full article: http://arstechnica.com/tech-policy/2013/08/senate-committ...

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