"The Department of Justice and Securities and Exchange Commission are telling a U.S. Senate committee that Bitcoins are legitimate financial instruments, boosting prospects for wider acceptance of the virtual currency."
"Ben Bernanke, chairman of the Federal Reserve, is also weighing in on the hearing, saying that it has no plans to regulate the currency."
Woohoo!
Does this mean no federally backing for Coin Validation?
Plans can change, and they can be lied about too. Who knows?