Regulating bitcoin? Federal oversight council sets up group to study cryptocurrencies

A group of top federal regulators has set up a group to study Bitcoin and other cryptocurrencies, Treasury Secretary Steven Mnuchin said Friday.

Speaking at an event in downtown Washington, Mnuchin said the super-group of financial regulators that he chairs, the Financial Stability Oversight Council, has set up a working group on cryptocurrencies. The council comprises the heads of all the major agencies and is empowered to impose regulations on non-bank businesses and industries.