Congressional Reports on the Way, and Possible Bill in the Works for Bitcoin

By Colby Adams

A pair of congressional reports on the financial crime risks associated with Bitcoin and other digital currency platforms are slated for publication in April, say sources. After receiving testimony from regulators and Bitcoin advocates in November, members of the U.S. Senate Homeland Security and Governmental Affairs Committee asked the Government Accountability Office (GAO) to assess the impact that virtual currencies could have on financial markets and traditional payment methods, according to a congressional staffer familiar with the matter. Once published, the GAO report could inform legislation to enhance regulatory oversight over digital currency firms, especially those that exchange electronic funds...