United States debate digital currency

Now that consumers can use digital currencies like bitcoin to buy rugs from Overstock.com, pay for Peruvian pork sandwiches from a food truck in Washington, D.C., and even make donations to political action committees, states are beginning to explore how to regulate the emerging industry.

http://phys.org/news/2014-08-states-debate-digital-currency.html

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Although digital currencies are far from widespread in their acceptance, their growing popularity - and potential for misuse - has prompted states to weigh in on what was previously uncharted territory.

"As far as we know, most state laws are completely silent on this topic," said David J. Cotney, chairman of the Conference of State Bank Supervisors' Emerging Payments Task Force, which in March began exploring virtual currency.

Among the questions the "task force" will consider, Cotney said, is whether bitcoins should be classified as currencies, investment securities or commodities, which could determine which regulators should apply.

http://www.mass.gov/ocabr/utility/about-david-j-cotney.html

David J. Cotney, Chairman of the Conference of State Bank Supervisors' Emerging Payments Task Force in 2010.

The CSBSEPTF ?