Frank Pallone actually said...

"I look forward to hearing from all of our witnesses about the current and future uses of crypto-currencies and the blockchain, and the consumer protections that go with them hand in hand."

"opening statement"

"However, at the same time crypto-currencies raise important issues that should be explored, they are not legal tender."

"Thank you, Chairman Burgess. While some members surely have heard of Bitcoin, few have likely heard of the recordkeeping software underpinning it called the blockchain."