The new Federal Reserve chairwoman Janet Yellen believes her organization has no authority to regulate Bitcoin, Yellen said during a confirmation hearing on Thursday.
During a hearing at the Senate Banking Committee, Sen. Joe Manchin (D-W.Va.) asked her about regulating Bitcoin. Yellen responded that regulating Bitcoin is not the Fed’s prerogative.
“To the best of my knowledge, there is no intersection in any way between Bitcoin and banks that the Fed has the ability to supervise and regulate,” Yellen responded, according to Reuters’ live blog. “The Fed does not have authority with respect to Bitcoin.” Read more…
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