A task force of U.S. state regulators is working on the first bitcoin rule-book, the head of the group said, hoping to protect users of virtual currency from fraud without smothering the fledgling technology. "We may be looking at some type of model definitions, or model laws or regulations, and very likely recommendations to either our federal colleagues or to Congress," David Cotney, Massachusetts Commissioner of Banks, told Reuters on the sidelines of a public hearing into the issue.
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