Carper chairs hearing on bitcoins

A Senate committee held a hearing Monday on the use of bitcoins and other virtual currencies not backed by any government or bank.

Senator Tom Carper (D-Del.) says this virtual currency being used on the internet raises important questions about the misuse by those trying to hide their identity in transactions.

"Our government needs to pay attention to this technology and to understand, where appropriate, to address these implications," Carper says.

He says the bitcoins can be used to launder money, traffic illegal drugs, or to exploit children.

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