This paper explores Bitcoin from a regulatory perspective. Please note Dion’s pure intentions: he explicitly seeks to find a balance between the constitutional/commercial rights of the individual against the government’s role in enforcing crimes against fraud and the drug trade. Nowhere does he state a desire to outlaw Bitcoins; in fact, he does the exact opposite: “This [n]ote will argue that Bitcoin should not be strictly outlawed.”
I have rearranged and extracted key points for discussion.
https://btcgsa.wordpress.com/2013/06/10/regulating-bitcoin-in-the-us-a-technical-analysis/