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“Built within the Bitcoin protocol are capabilities to develop other financial innovations, like notary services, encrypted communications, and ‘smart’ collateral contracts. Developers and businesspeople are still learning the myriad applications for this innovative technology. Just as the public debate understates some of the benefits of Bitcoin, it also overstates some of the concerns. The hypothetical crimes that Bitcoin may enable are traditionally committed with cash, but policymakers would never dream of criminalizing cash. Instead, they regulate the use of cash. Regulations targeting Bitcoin could adopt this time-tested approach.”

http://thehill.com/blogs/congress-blog/technology/317875-bitcoin-understated-benefits-and-overstated-risks