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US senator calls on government to ban Bitcoin

Thursday, 27 February 2014 - 4:11pm IST | Place: Washington | Agency: ANI

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A United States senator has called on the federal government to completely ban Bitcoin.

Joe Manchin, a Democratic senator representing West Virginia, sent a letter to federal regulators, calling for a ban on the virtual currency. 

In the letter, Manchin said Bitcoin attracts and enables criminals even as its value to the US economy is 'suspect, if not outright detrimental,' the Verge reports.

According to the report, Manchin noted this week's collapse of the largest Bitcoin currency exchange, Mt. Gox.

Manchin said he was most concerned that other countries such as Thailand, Russia, and China were cracking down on the Bitcoin, but America was still holding the bag on a valueless currency.

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