My latest article for bitcoin.com has been posted: https://news.bitcoin.com/federal-legisl ... ency-nigh/ De Facto Federal Legislation of Cryptocurrency is Nigh. I will be in the commentary section today and tomorrow to chat and to answer questions. I hope to see you there. Shares appreciated.
Excerpt: "An upcoming meeting of the Uniform Law Commission (ULC) is likely to change how law enforcement across the U.S. approaches bitcoin. Right now, the meeting is under the radar, but its fallout could soon make a pivotal debate flare on a state-by-state level." Note: given that each state will likely enact much the same measure, the ULC "model act" will function as de facto federal law. https://news.bitcoin.com/federal-legisl ... ency-nigh/
Here is a sample of the conversation going on in the commentary section: "Most people have not heard of the Uniform Law Commission which is, arguably, the most powerful behind-the-scenes legal force in America. I've had the "pleasure" of dealing with it regarding a proposed state statute that would have drastically redefined what was "sexual consent" in America. I was part of a huge coordinated effort to block some of the worst and most state-intrusive language as and when the measure was being drafted; it was an effort that involved organizations of lawyers, judges, academics, etc. We were successful.
I bring this up because that sort of long-running and massive effort at the drafting stage of ULC activity is what is required to counter a proposed measure. It is especially necessary to have law professional protesters who are part of the ULC because they can object from within. A fellow on bitcoin reddit tried various strategies to protest the template in the article...talking to the head of this particular committee, a petition, calling organizations, coordinating on reddit itself... But he didn't have the mass power -- especially the legal professional power -- behind his drive. The head of this particular committee of ULC basically told him to f*** off and address the ULC statute on a state-by-state basis when it was up for being enacted in law. That is really too late. Ah, well."