State Regulators Propose Model Regulatory Framework for Virtual Currency Activities

The Conference of State Bank Supervisors (“CSBS”) issued a Draft Model Regulatory Framework (“Framework”) for virtual currency activities. 

The Framework includes licensing, consumer protection, market stability, anti-money laundering and cybersecurity requirements for state licensed virtual currency firms. 

The CSBS is soliciting public comment on the Framework together with a list of questions. All comments are due by February 16, 2015. 

See: Draft Model Regulatory Framework; CSBS Press Release.