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Bitcoins Offer Legitimate Benefits

At U.S. Senate hearing on virtual currencies, Department of Justice and SEC officials weigh in on the benefits of bitcoins.

By Max Raskin, Bloomberg | Updated on November 18, 2013

The Department of Justice said bitcoins can be “legal means of exchange” at a U.S. Senate committee hearing, boosting prospects for wider acceptance of the virtual currency.

“We all recognize that virtual currencies, in and of themselves, are not illegal,” Mythili Raman, acting assistant attorney general at the Justice Department’s criminal division, said at the hearing.

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