Senator Carper: US Does Not Need new laws for Bitcoin

Paul Carrozzo @USDBTC
6 years ago

Senator Carper drew a parallel between the internet and Bitcoin (finally a powerful voice that is educated  on the topic):

“When the internet was young, people said who cares about that? Some people said it has some upside potential, some people said it has some downside potential to with drug transactions and money laundering. The early message on the internet was, let’s not kill the baby in the cradle.  I think there is some upside her for Bitcoin and other virtual currencies”

“Federal regulators and law enforcement agencies don’t need new laws to tamp down on the more seedy uses of bitcoin and other virtual currencies, Sen. Thomas Carper, D-Del., told CNBC on Tuesday.

“They’ve told us right now that we don’t need more legislation,” Carper said on “Squawk on the Street.” “They think they have the powers they need to go after the bad stuff.”

Carper, the Homeland Security and Governmental Affairs Committee chairman, told CNBC that federal agencies, from the IRS to the FBI, have assured him that they can police illicit uses of cryptocurrencies, such as money laundering or drug trafficking, through the country’s current legal framework.

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Last modified (UTC): January 7, 2014 22:22

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