Financial system can benefit from Bitcoin, officials say

11/19/2013 | New York Times (tiered subscription model), The

Officials said at a Senate hearing that Bitcoin, a system of virtual currency, offers genuine benefits to the financial system, and they are ready to recognize it as a legitimate form of payment. "There are plenty of opportunities for digital currencies to operate within existing laws and regulations," said Edward Lowery, a special agent with the Secret Service. Within hours, the value of a bitcoin unit surged on some exchanges.

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New York Times (tiered subscription model), The

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