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Senator Warns Unregulated Bitcoin Leaves Americans Holding A “Valueless Currency”

wochit business
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February 27, 2014 AT 6:40 AM
Senator Joe Manchin is calling for either strict regulation or an outright ban on the controversial digital currency Bitcoin. Bitcoin is an anonymous digital cryptocurrency that has become an increasingly popular way to buy products and transfer money online, but it also makes it easier to buy black market drugs and weapons. Bitcoin’s troubles have been exacerbated by wild swings in value, as well as the theft of millions from notable Bitcoin exchange Mount Gox. The U.S. Treasury has confirmed that it will not go after those who mine Bitcoin.