Don't expect regulators to work together, make sense, or even talk. It is entirely possible that SEC will define Bitcoin as a tradeable asset, CFTC define it as a "virtual commodity" and FinCEN still call Bitcoin "monetary value" (and thus subject exchangers to MSB/MT regulations).  Meanwhile the states offer tortured illogical notices and guidance due to a lack of basic understanding on what Bitcoin is.

Actually I would count on the above happening.  Maybe in a decade or so and hundreds of court cases you will see something resembling a logical regulator environment emerge.