Moran Says Much Still To Be Learned About Bitcoin

By: AP - (posted by Greg Palmer)
By: AP - (posted by Greg Palmer)

LAWRENCE, Kan. (AP) A U.S. senator from Kansas says he's still trying to get a grip on the implications of a virtual currency known as "Bitcoin" that has seen rapid growth in recent months.

Sen. Jerry Moran, a Kansas Republican, serves on a subcommittee that deals with the banking aspects of national security and international trade and finance. The Lawrence Journal-World ( reports that 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 actions by the U.S. to regulate Bitcoin or any other virtual currency could inadvertently deprive Americans of its potential benefits.

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