Sensiblie regulation...

[Realpra]

1. Bitcoin is a currency, payment network and a protocol.
2. Stealing bitcoins is theft of property.
3. Accepting bitcoins and not in any way delivering the agreed service is fraud and/or theft.
4. Much as losses due to fiat inflation are not tax-deductible, Bitcoin gains shall be tax-exempt.
5. Using or running Bitcoin mixing services is a privacy feature of Bitcoin and shall not be regarded as money laundering as there could be legal reasons for participating in such.
6. Using Bitcoin for activities illegal in a country shall remain illegal, but using Bitcoin itself shall not be considered illegal.
7. Bitcoins belonging to foreign citizens shall not be illicitly confiscated under local laws, but returned to the jurisdiction of the owners or to the owners themselves.
8. If a service is in some way storing customers bitcoins, they shall loudly declare that the customers funds are trusted with them completely - unless the company documents it has the funds claimed with for example a public company account or government approval.
9. Customer funds stored by a Bitcoin related service shall belong to the depositing customers before any other creditors - unless otherwise clearly agreed to by the customer.


... not a snowballs chance in hell

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[DeathAndTaxes]

... not a snowballs chance in hell

Agreed.  Even if a country adopted those principals the final regs would be about 2,000 pages.

See:
http://www.ecfr.gov/cgi-bin/text-idx?SID=58a4710ef2e133da3a818025e103c41c&node=31:3.1.6.1.2&rgn=div5


Still some of those are likely already in effect (at least in some jurisdictions).

#2 & #3 applies to anything of value, Bitcoins have value, courts have even indicated so.  Case in point Pirate@40's defense that Bitcoin isn't money didn't hold water.

#5 as least so far hasn't been made illegal.  Generally things are legal until they are explicitly illegal.  Countries rarely pass laws stating something is legal.   In the US FinCEN's focus has been on the "virtual-real" boundary.  Entities not involved in real currency are not subject to FinCEN regulation.

#6 is probably true in most countries.  To my knowledge no country has said Bitcoins are themselves unlawful and obviously if something is unlawful (gambling, illegal drugs, prostitution) changing the method of payment doesn't magic it to lawful.

#9 is generally accepted in US bankruptcy law (and most if not all countries).  The concept is called a "bailor arrangement" however it doesn't protect you from fraud by the bailor for obvious reasons.