Washington D.C.’s blessing and a Chinese feeding-frenzy: What more could a virtual currency ask for?

Bitcoin was off to the races on Monday, soaring to new highs above $600 — to $618.94 — and last at $610 in choppy trade on Mt. Gox.

Plus, onMonday the U.S. Senate Committee on Homeland Security and Governmental Affairs is due to hold a hearing on the challenges law enforcement and regulatory agencies face dealing with bitcoin.

Ahead of that meeting, Bloomberg News reported that the Department of Justice and the SEC are expected to tell a U.S. Senate Committee that bitcoins are are legitimate financial instruments. The virtual currency offers benefits and risks just like any other online-payment system, according to letters released before the hearing. http://blogs.marketwatch.com/thetell/2013/11/...hina-buzz/