Have you guys seen this one? It's a bit long but give a once over.
US Law Commission to Debate Model Digital Currency Bill in DCThe Uniform Law Commission (ULC), a nonprofit dedicated to creating consistency among US state laws, is set to discuss a draft version of a model law meant to guide states in the formation of regulation for virtual currencies such as bitcoin this week.
Set to take place from 9th to 11th October at the Hyatt Regency in Washington, DC, the three-day event will bring together the ULC's Study Committee on Alternative and Mobile Payment Systems for discussions on specifics of the bill's current provisions, including its recommendations to state legislatures on capital requirements and the cost of licensing.
Originally tasked with considering the need for more uniform state legislation on alternative and mobile payment systems in 2014, the group eventually chose digital currencies as its area of emphasis. Ultimately, the first version of the draft bill puts forth a set of initial recommendations for how entities operating "trusted intermediaries" in the digital currencies space should be licensed across the US so that requirements are more consistent.
Pillsbury Winthrop attorney Marco Santori, who will be in attendance at the meeting, suggested the goal is to create a law that would do for digital currencies what the Uniform Money Services Act (UMSA) did for money transmission laws.
[...]
At the time, the committee called for the ULC to expedite its draft regulation process citing the increasing number of brands and consumers seeking to engage in digital currency transactions, as well as actions by groups such as the Conference of State Bank Supervisors to issue similar guidance to state regulators.
The agency said its goal was to strike a "balance between a law enacted in 53 jurisdictions but flexible enough not to frustrate innovation".
"Because virtual currencies do not enjoy comparable statutory or regulatory underpinnings to other payments systems, the states are under pressure to act," the group wrote.
Further highlighting the need for swift action, the group argued, was that California, New York, North Carolina, Kansas and Texas were already considering enacting regulatory schemes, which it suggested could be disparate in their composition.
http://www.coindesk.com/ulc-debate-digital-currency-regulation/