They are called the Virtual Commodity Association (VCA). IMO, I like to see these exchanges being pro-active about common-sense regulation. Those taking action are Bitstamp, bitFlyer USA (not accepting registrations at this time), Bittrex and Gemini exchange. No one wants to fall prey to a fly-by-night operation. And this allows for "us" to continue to manage this thing ourselves, while keeping the SEC at a distance. Unless, I completely misunderstand what's happening here.
I'd sure love to hear some feed-back regarding these self-regulatory VCAs, and also feedback on New York's requirements for registration/licensing (Personally, I think it's typical for New York). What do you all think of these developments?