Ben Bernanke, chairman of the Federal Reserve, is also weighing in on the hearing, saying that it has no plans to regulate the currency.
Although the Federal Reserve generally monitors developments in virtual currencies and other payments system innovations, it does not necessarily have authority to directly supervise or regulate these innovations or the entities that provide them to the market, Bernanke wrote in a letter to the committee.
Whoa. Nice.
Federal reserve has nothing to do with regulation of anything other than the printing presses, bond rates against those presses and interest rates...