Fed Chair Yellen Testified about Potential of Regulating Bitcoin

ARE CRYPTOCURRENCY’S LEGAL? As far as U.S.A. is concerned, there has been no formal advanced activities and opinions from the Federal Reserve since the following scene. They have seemed to keep the standing of the nonchalant bystander until now. The Senate Banking Committee and Senate Homeland Security Committee held hearings on Bitcoin back in November of 2013. The outcomes were largely positive for Bitcoin with the Obama administration and Senate willing to leave Bitcoin/Cryptocurrency alone for now. Senator Joe Manchin (D-WV) has called for a ban on bitcoins, and the Senate Banking Committee brought in the Federal Reserve Chair Janet Yellen to testify about the potential for regulating Bitcoin. The thing is there is NO such potential for regulating Bitcoin, Yellen said, at least not now. Yellen testified that Bitcoin “a payment innovation that's taking place outside the banking industry”, and added: To the best of my knowledge there’s NO intersection at all, in ANY way, between Bitcoin and banks that the Federal Reserve has the ability to supervise and regulate. So the Fed doesn’t have the authority to supervise or regulate Bitcoin in any way! ​ You can earn and learn BitCoin here at CLICK !!

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