Circle’s Wishlist for Bitcoin Regulation in 2015

John Beccia is general counsel and CCO for Circle, a consumer finance company that uses bitcoin technology to make money transfers and payments instant, secure, global and free.
In this article, he shares his wish list for regulators focused on digital currency.
It’s the time of year when everyone is filled with holiday cheer and ambitious goals.
As we turn the calendar page, it’s a moment for optimism and hope that not only will digital currency businesses grow in 2015, but there will also be sensible regulations for their activities.
The road to creating a regulatory framework for digital currency has taken several twists and turns over the past year. Despite some progress, questions and challenges remain.
Early holiday gifts have come from the Conference of State Bank Supervisors (CSBS), whichissued proposed ‘principles’ for state regulation of digital currency, and Superintendent Lawsky who laid out revisions to New York’s BitLicense proposal.
Along with finalizing those proposals, coming attractions for 2015 include completion of the Fourth Money Laundering Directive in the European Union (EU), a potential ban of bitcoin in Russia and a key case pending on the value-added tax (VAT) treatment of digital currency in the EU.

This post was published at Coin Desk on December 26, 2014.