All "currencies" in history have been backed by something tangible, or trust, usually something tangible combined with trust.
Bitcoin, being the world's first P2P "currency" is not actually a currency at all, but an agreed upon encrypted group of numbers that took some "energy" to produce, is limited in volume and thus promotes a sense of "trust". Nothing more, so don't be fooled into thinking it's a "currency" like the dollar is or any other physically backed "money"
All laws that pertain to money, including laws that took down E-Gold related to laws that dealt with actual money, currency laws, and securities, which are monetary backed units of account.
The only problem at all, is using the banks to buy and sell your bitcoins, but that should be legal, since you are not actually trading in "currencies" as an exchange. The regulators may try to get someone on something but it would have to be related to fraud, not the use of the bank to exchange currencies, and if no fraud was involved, then no crime, correct?
Can any bright attorneys or legal eagles help point this thread in the right direction, or am I correct in my assumption?
cold storage bitcoin specific cards and other physical btc/ltc demonstrate some interesting parallels to many other forms of currency!
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. Good idea. 
