[jnbiche]

>There's only one exception: Greg Kidd, who is invested in a number of payment companies, including Coinbase, and now works for Ripple. http://fedpaymentsimprovement.org/wp-content/uploads/Greg_Ki...

I like this guy. Greg's pdf is well worth reading (and pretty funny at points) if you're interested in this space.

And while I'm not sure I agree with Aaron's tactics, it's clear that there is a huge problem here: it's impossible for new businesses to innovate in the money transmission industry.

Overall, I agree with both Aaron and Greg's assessment of the problem: state money transmission laws are strangling financial innovation. However, I am very wary of placing more power in the hands of a federal government that failed to act in good faith in this space (see HSBC's fines versus the treatment Bitcoin is getting).

And realistically, some sort of unified state money license requirement like the NMLS is a far more likely outcome than letting the federal government to take over these responsibilities altogether.