That Word Thursday from Federal Reserve Chair Janet Yellen when testifying before the Senate Banking Committee.
The Guardian reports she was questioned about the digital currency by Senator Joe Manchin who, on Wednesday, wrote to the Fed, the Treasury and other regulators, warning that bitcoin is “disruptive to our economy” and should be be regulated.
Yellen said there is no intersection between bitcoin and banks under the Fed’s authority, meaning the Fed has no ability to regulate it.