Bitcoin surges above $600 ahead of Cong. hearings

``The virtual currency rose to just under $619 on Mt. Gox exchange Monday afternoon in Asia, up by over 25 percent from the same time on Sunday. Its latest gains come as the potential for regulation hangs over the market. The U.S. Senate Committee on Homeland Security and Governmental Affairs (HSGAC) is set to begin a hearing at 3.00 p.m. Washington time on Monday.. Ahead of the hearing, entitled "Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies", several government agencies wrote to Committee outlining their views on the currency. Federal Reserve Chairman Ben Bernanke stated that the bank had no plans to regulate bitcoin.''