Statement from Chairman Carper Regarding FinCEN’s Guidance on Virtual Currencies

WASHINGTON – Today, Senate Homeland Security and Governmental Affairs Committee Chairman Tom Carper (D-Del) released the following statement regarding the Department of Treasury’s Financial Crimes Enforcement Network’s (FinCEN) guidance on virtual currencies:

“I am encouraged that the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) has published two administrative rulings clarifying how it will approach individuals and businesses that invest in Bitcoin and other virtual currencies. These administrative rulings underscore the fact that this technology is evolving and that there is growing interest in utilizing it for a number of purposes. I am glad that FinCEN is working to release rulings in order to provide more clear, consistent, and timely guidelines to potential innovators, meaning those interested in virtual currencies can continue to explore the opportunities this technology offers while also adhering to federal law. All government agencies should continue working to help ensure that this evolving technology does not outpace an effective regulatory response. By doing so, federal agencies can help ensure that consumers are protected while also fostering innovation and commerce.  I will continue to monitor how federal agencies respond to developments of this technology and, if necessary, encourage agencies to act to ensure that the federal government is speaking with a unified and consistent voice on this issue.”