29 Oct '14, 12am

Former SEC chairman bullish on bitcoin, lends advice to companies

Former SEC Chairman Arthur Levitt Jr. has agreed to advise two bitcoin companies -- BitPay and Vaurum. Alex Wong/Getty Images Former US Securities and Exchange Commission Chairman Arthur Levitt didn't know much about Bitcoin when several Bitcoin companies asked for his advice. But he quickly got excited about two particular companies -- Bitpay, the largest processor of bitcoin payments, and Vaurum, an up-and-coming Bitcoin exchange being boosted by influential Silicon Valley investor Tim Draper . The companies announced Tuesday that Levitt is an official adviser. BitPay, which launched in 2011, helps 40,000 business accept Bitcoin as a form of payment. Vaurum, founded in 2012, allows financial institutions to trade, store and offer bitcoins to customers. Levitt's involvement signals the bitcoin industry's interest in making the digital currency attractive for the masses. B...

Full article: http://www.cnet.com/news/former-sec-chairman-bullish-on-b...

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