Economy
10:09 am
Fri November 29, 2013

Senator Moran 'Getting A Grip' On Digital Currency Bitcoin

Kansas U.S. Senator Jerry Moran says he's still getting a grip on the implications of the virtual currency "Bitcoin."

Bitcoin has grown rapidly as a form of currency in the past few years.

Senator Moran serves on a subcommittee that deals with the banking aspects of national security and international trade and finance.

The panel met last week for its first hearing on Bitcoin, mostly to educate members about the currency and concerns surrounding it.

Moran says a lack of accountability and the anonymous nature of the currency are among the things that trouble him about Bitcoin.

But he also questions whether unilateral U.S. actions to regulate Bitcoin (or any other virtual currency) would inadvertently deprive Americans of its potential benefits.