Detailed text transcripts for TV channel - FOXNEWS - 20130815:23:17:00
Currency as well. peter barnes is investigating for us live tonight in d.c. peter? >> well, shep, as virtual currencies like bit coin become more popular. officials want to make sure that users are protected. it's largely unregulated technology designed to help reduce the cost of buying and selling products by eliminating the middle man. in this case, banks which charge processing fees for transactions. the system is based on trust between buyers and sellers and supposedly secure but many cyber currencies are also backed by exchanges that can convert these bit coins and other things into cash....
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