Senate Homeland Security Committee Reportedly Planning Bitcoin Hearings Within a Month
TIME is reporting that the Senate Homeland Security Committee is planning to hold hearings on Bitcoin within a month, in a report published today. The committee sent letters to nine federal agencies in July asking for their thoughts on Bitcoins and other virtual currencies in the hopes of developing a holistic approach to the so-called cryptocurrency that neither stifles the currency's potential nor enables criminals to abuse it. Tom Carper, committee chairmain said,
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The US Senate committee due to begin hearings into 'virtual currencies' on 18 November has released the responses it received to its August 2013 requests for information on the topic from a number of federal agencies. Until the actual hearings begin, the letters provide one of the most detailed insights so far into how various US government authorities view bitcoin and its contemporaries. The requests from the Senate's Committee on Homeland Security and Governmental Affairs (HSGAC) asked five agencies about their existing policies and procedures regarding virtual currencies, their level of....
View the full video of the Senate Committee on Banking, Housing, and Urban Affairs hearing on virtual currencies here. The Present and Future Impact of Virtual Currency hearing taking place today at the US Senate will be webcasted live on C-SPAN3. The Committee on Banking, Housing and Urban Affairs' Subcommittee on National Security and International Trade and Finance, and Subcommittee on Economic Policy will meet in open session. This is the second of two hearings on digital currency this week, the first being held by the US Senate Committee on Homeland Security and Governmental Affairs....
Representatives from the Treasury, the DOJ and Homeland Security all told members of Congress that federal regulators need to watch Bitcoin more closely. Acting Assistant Attorney General Mythili Raman joined in a chorus of her colleagues by telling a Senate committee hearing that “criminals are nearly always early adopters of new technologies and financial systems, and virtual currency is no exception.” Such criminals include money launderers and drug dealers, they claim, who conceal their actions via anonymous, decentralized currencies such as Bitcoin. The hearing was held by the Senate....
What happens when the US Senate meets Bitcoin? Today and tomorrow, the US Senate will conduct two hearings to learn more about this skyrocketing in value, digital, decentralized cryptocurrency. Summoning representatives from the Bitcoin Foundation, BitPay, Circle, Ripple and additionally, representatives from FinCen, Academia and Financial Services Roundtable. Today, the Bitcoin Foundation and Circle will share the merits of Bitcoin at a 3pm EST Senate Homeland Security and Governmental Affairs Committee hearing entitled, "Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual....
For those of you that were not able to view the US Senate hearings on Virtual Currencies [read: Bitcoin] do check out these highlights. Youtube user hromlery has been kind enough to highlight prominent US officials talking about Bitcoin. Even one year ago, nobody could have imagined this.