But what does that mean? What is the "best" practice? The "best" standard? Best is a very subjective term.
Explain to me how legislators will control BTC. They can't stop SR, The Armory (and similar sites), money laundering, or any of the illegal activities that go along with it. How will they stop legal ones?
People are free to do what they want with their money. Once bitcoin takes off as an actual currency there won't be laundering money through bitcoins because bitcoins will be the money.
Who defines these "standards"? Why are standards needed? Aren't bitcoins supposed to be regulated by the community?
Since when is bitcoin an industry? It's supposed to be a currency. You don't talk about the booming "pound" industry or the "USD" industry. And why would you comply with the government? They are not friends of bitcoin.
Why is bitcoin an industry?
b. Develop and administer appropriate oversight processes and accountabilities for members who do not meet DATA’s business and technical standards; and
c. Approve new or modified member standards as the marketplace, technology, and regulatory expectations evolve.
You don't have to be a member of D.A.T.A. but its members are indicating they would uphold these initial principles once a formal organization is in place.
I don't have to be a member... but I'm sure at some point it would become impractical to not be a member if you are a large exchange or business. If there are "standards" for members then there is some form of regulation.
These "standards" worry me. You keep saying "you don't have to join DATA" yet you want it to be popular, and you're going to be enforcing standards upon all of your members.
Which is it? Useful "suggestions" or actual, member-compliant standards that must be followed?
If bitcoin gets regulated, it's basically just fiat, rendering it pointless.