In December 2014, the Study Committee of the Uniform Law Commission (ULC) recommended to the ULC to convene a Drafting Committee to draft uniform state legislation concerning alternative currencies and mobile payment systems. Although the Study Committee was charged with examining both alternative currencies and mobile payment systems, the Study Committee has decided to focus primarily on possible uniform legislation concerning virtual currencies. As a first step towards the initiative, the Study Committee is holding a Stakeholder’s Meeting on April 23, 2015, to invite questions, generate discussion and listen to what the participants in the virtual currency sector have to say regarding certain topics on the agenda. The objective of the Meeting is to present a framework of rules derived from experience with the Uniform Commercial Code and identify components critical to a law on virtual currency through a discussion with the attendees.
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