Published on September 16th, 2015 | by bitcoin0
Supervisors at US State Bank Publish Final Model Regulation
The US Conference of State Bank Supervisors (CSBS) has released the final version of its model regulatory framework for digital currencies.
wallets, vaults, kiosks, merchant-acquirers, and payment processors)” should fall under the oversight of state bank regulators.
Accordingly, activities involving fiat currencies that are otherwise subject to state laws should be covered if undertaken using virtual currency.
In its final regulation model, the CSBS declined to include such language, stating that “state regulators understand the argument in favor of legal and regulatory incubation”.
The final version of the CSBS Model Regulatory Framework can be found below:
CSBS Model Regulatory Framework
Paperwork image via Shutterstock