The group of investors, Silicon Valley bigwigs, and financial regulators who gathered at last week's hearing in New York City to discuss the viability of Bitcoin as an entity to be regulated came to the general conclusion that it is worth creating policy to govern the digital currency.
Investors in Bitcoin, such as the Winklevoss twins, Cameron and Tyler, are in favor of setting up minimal regulatory actions to set policy for the integration of Bitcoin into the mainstream economy. (They filed a proposal with regulators at the U.S. Securities and Exchange Commission last July to operate an exchange trade for the digital currency, initially selling $20 million worth of shares.) As the two collectively own 1 percent of all Bitcoins, it is predictable that they would want some official way to trade them. And the New York Times reported that Barry E. Silbert, the founder of Bitcoin Investment Trust, stated that “it may be appropriate to regulate any transaction that involves an unregulated intermediary converting Bitcoin to dollars on behalf of a third party.” But others were more skeptical.