27 Feb '14, 5pm

Janet Yellen on #bitcoin: The Fed doesn’t have authority to regulate it in any way.

Janet Yellen on #bitcoin: The Fed doesn’t have authority to regulate it in any way.

“The Federal Reserve simply does not have authority to supervise or regulate bitcoin in any way,” Ms. Yellen said Thursday in testimony before the Senate Banking Committee. “This is a payment innovation that is taking place entirely outside the banking industry and to the best of my knowledge there is no intersection at all” between bitcoin and banks that the Fed can oversee.

Full article: http://blogs.wsj.com/moneybeat/2014/02/27/yellen-on-bitco...

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YELLEN: Fed Has No Authority To Regulate Bitcoin

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