Friday, February 28, 2014

Federal Reserve's Yellen: Congress Should Look at Bitcoin Regulation


Gee, how surprised we are............

The U.S. Congress should look into legal options for regulating virtual currencies such as bitcoin, Federal Reserve Chair Janet Yellen said on Thursday.

Japan-based bitcoin exchange Mt. Gox went dark on Tuesday, leaving customers unable to access their accounts. Experts have warned they might not have much recourse to recover their money.

Yellen said the Fed had no jurisdiction over bitcoins, which are created using a network of computers that solve complex mathematical problems and are not traded or held by banks.

More @ Newsmax
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2 comments:

  1. Stackz O MagzFebruary 28, 2014 at 1:54 PM

    "Yellen said the Fed had no jurisdiction over bitcoins, which are created using a network of computers that solve complex mathematical problems and are not traded or held by banks....." There is the problem. Worthless bankers don't like what they cannot regulate, manipulate, bet against, and control. I absolutely loathe their parasitical natures and existence.

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