“‘Bitcoin is a payment innovation that’s taking place outside the banking industry. 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 authority to supervise or regulate Bitcoin in anyway.  [..]  One concern with Bitcoin is the potential for money laundering. [FinCen] has indicated their money laundering statutes are adequate to meet enforcement needs. [..]  It’s not so easy to regulate Bitcoin because there’s no central issuer or network operator. This is a decentralized, global [entity].  [..] We’re looking at this,’ she concluded.”

http://www.businessinsider.com/yellen-on-bitcoin-2014-2

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