Regulators: Bitcoin might be legal, but it must be controlled

12/3/2013 | CFO.com

Law enforcement officials have cautiously embraced bitcoin as a legal means of exchange but say the digital currency must be controlled. Securities and Exchange Commission Chairman Mary Jo White wrote in a letter to the Senate Committee on Homeland Security and Government Affairs that bitcoin likely would be considered a security subject to SEC regulation. Witnesses at a Senate hearing cautioned that the currency could easily be used for illegal purposes.

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