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Officials try to make sense of Bitcoin

New York's Department of Financial Services is set to hold hearings on Bitcoin, which could clear the way for the virtual currency to enter more widespread use.

New York's Department of Financial Services is to start two days of hearings on the virtual currency, Bitcoin, on Tuesday.

This comes just a day after authorities charged two men in connection with money laundering using, Bitcoin exchanges.

The hearings are more fact-finding in nature, but if New York clears the way for Bitcoin to enter more widespread use, it could be a game-changing moment for digital currencies.

Samira Hussain reports from New York.