If I led a brokerage/exchange selling #Bitcoin or crypto offspring, I’d never be reliant on a vendor for money transmission licenses (re: PrimeTrust, BitGo, you name it).
SOLID APPROACH: Stack money transmission licenses state-by-state (ie. #[1])
LONG GAME: Support multi-state money transmission license *reciprocity* in the law.
we’ve written a model bill for US state lawmakers that would do just that.
https://github.com/yaeloss/Smart-Cryptocurrency-Rules-Act
as well as:
-forbidding Bitcoin mining electricity price discrimination
-forbidding municipalities from outlawing Bitcoin transactions
“Smart” bitcoin policy has less to do with proclamations that just sound good, and more to do with pre-emptions on government action and control that allow Bitcoin to grow independently and free.
Bitcoiners don’t need new laws on bitcoin nor an SEC action, we need pre-emptions and restrictions on governmental power that recognize our “right to bitcoin” that is as vital as the First Amendment.
Let people build, trade, and exchange freely.