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US agencies coming around cautiously to seeing benefits in virtual currencies

2013-11-19 14:38:18| InfoWorld: Top News

Federal officials told a U.S. Senate hearing on Monday that virtual currencies like bitcoin can offer benefits to the financial system, but also cautioned about its possible misuse for illicit activity. "The Department of Justice recognizes that many virtual currency systems offer legitimate financial services and have the potential to promote more efficient global commerce," said Mythili Raman, acting assistant attorney general at the Department of Justice in her testimony before the Senate Homeland Security and Governmental Affairs Committee.

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