“BitPay CEO Tony Gallippi also presented, and argued against regulation. He recommended that Congress take the same approach to bitcoin as they did to the commercial Internet in the early nineties: wait and see. ‘If America is the leader in Bitcoin technology, America will create more jobs and more exports,’ he said. ‘If the United States doesn’t allow our businesses to accept bitcoin and create more jobs and exports, then countries like Germany and China certainly will.’  He understood why banks might be nervous about virtual currencies, though, as it is a disruptive technology, which threatens to undermine their business models.”

http://www.coindesk.com/bitcoin-regulated-commodity-banking-hearing-advised/

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