Talking w/ regulators (telecon canceled for this week)

Telecon for this week is canceled, the backlog of work that we have can
wait until next week. An update on what's been going on:

I've been spending a lot of time on the phone w/ regulators in all 50 US
states and at the federal level last week and this week to see how the
standards were creating here are going to fit into current regulation in
the US and worldwide.

In general, all of the regulators have been very supportive of the work
we're doing here and want to help. As a result, we've added a few more
very prominent figures to the Web Payments workshop. One of them wrote
much of the money transmission legislation for the US (24+ states) and
advises many of the international money transmitter associations.

I can't say much more than that right now because we're talking w/ lots
of lawyers, but the fundamental takeaway is that a good chunk of the
technology we're creating here will work nicely w/ the regulatory
framework that's in place in the US as long as we don't do something
stupid (I'm currently compiling a list of stupid things we could do to
trigger the ire of regulators) and stay in close communication w/ the
regulatory agencies.

So, good news on that front. :)

-- manu

-- 
Manu Sporny (skype: msporny, twitter: manusporny, G+: +Manu Sporny)
Founder/CEO - Digital Bazaar, Inc.
blog: The Worlds First Web Payments Workshop
http://www.w3.org/2013/10/payments/

Received on Tuesday, 11 February 2014 22:54:19 UTC