So, we've all had our fun scoffing at regulators, but now that we've got that out of our system (and our portfolio's are down 60%) are we ready to make a regulated US exchange?
This would have the perks of inviting more liquidity from larger market participants, as well as more stability and predictability.
Playing around with other experiments such as decentralized exchanges and colored coins just invites unpredictable illiquidity and instability.
The Securities and Exchange Commissions offers plenty of regulatory exemptions for the kinds/sizes of companies that have so far "IPO'd" in bitcoin land, the exchanges might have a more uphill battle but its time to cross the bridge
First you have to lobby the congress and get them to pass a law to define what a Bitcoin exchange is and what the rules should be.
The SEC has no exemption for Bitcoin and it should either create an exemption or customized laws will have to be constructed based on the advice of the Bitcoin community and the lobbying efforts which Bitcoin businesses will have to work for.
No?
The SEC doesn't need an exemption for bitcoin, read the definitions of the Securities Act of 1933, the denomination was never NEVER a concern of the SECm even 80 years ago.
The exemptions already exist for the size of the offerings these. There are like a dozen (exaggeration) regulation D exemptions that the "publicly traded" bitcoin denominated companies can already have used. And this has nothing to do with the pending crowdfunding regulations
Regarding the exchanges themselves, I am not that familiar with the regulations, but I'm going to go on a limb and say the primary denomination isn't an issue either. So neither Congress or the SEC are the real concern, FINRA on the other hand would be a concern, as the SEC is basically an extension of them and it is very protectionist with their licensing and fining regime