POLITICO – A Senate committee is pressing federal regulators and law enforcement officials to explain how they plan to oversee Bitcoin and other virtual currencies as the issue gains increasing attention from government officials concerned about the role these new markets will play in the future.
The Senate Homeland Security and Government Affairs Committee on Monday sent letters to several agencies requesting that they disclose their virtual currency policies, how they developed them, how agencies are coordinating and finally what they plan to do going forward.
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“The more folks that we talked to related to this issue, it became very clear to us that this is not a sort of technology that’s going away,” a committee aide said. “This isn’t something that’s a flash in the pan. It’s something that’s going to be with us.”
The committee is planting its flag as state and federal officials step up scrutiny of the four-year-old, $1.2 billion Bitcoin marketplace, where a start-up industry is trying to navigate emerging government concerns related to money laundering, tax evasion and investment products.
Read more at POLITICO.
