Bitcoin

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The digital currency known as bitcoin is too secretive to be allowed as a form of campaign contributions in state and local elections, the Kansas Governmental Ethics Commission said.

The commission's decision Wednesday came after Executive Director Mark Skoglund said he received a request from a candidate wanting to know whether it was legal to accept campaign contributions in bitcoins, the Lawrence Journal-World reported.

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.