14 Aug '13, 5pm

Now Congress is Concerned About Bitcoin

Senators Thomas Carper and Tom Coburn, of the Senate Comittee on Homeland Security, have revealed that they're going to be looking into Bitcoins and similar crypto-currencies, examining all aspects of the technology including--and this is key--the regulations that may or may not apply to them. According to the Washington Post , the senators wrote to Homeland Security head Janet Napolitano to set out their plans, noting that "Virtual currencies appear to be an important emerging area” that “demands a holistic and whole-government approach to understand and provide a sensible regulatory framework.” Separately the New York Department of Financial Services has revealed it is investigating Bitcoin, having subpoenaed 22 companies who have a big role in the emerging currency. Last week a Texas federal judge ruled that Bitcoin was a genuine currency, and that the currency and tran...

Full article: http://www.fastcompany.com/3015737/fast-feed/now-congress...

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