from here: https://bitcointalk.org/index.php?topic=41155
This is an old topic, but I don't think it has received much attention.http://en.wikipedia.org/wiki/Currency_overlay
The idea is that firms like Bitcoin Consultancy can offer Bitcoin to their clients as a currency overlay strategy. This is entirely within the scope of existing financial regulations, as the consultancy takes on the role of financial adviser and offers Bitcoin as an investment strategy to hedge currency risk. Bitcoins are then bought and sold like any other commodity or currency. All of the legal paperwork and interfacing with authorities is handled by the firm offering this service. Neither the client nor other Bitcoin users end up with any exposure to any legal peculiarities of the particular jurisdiction in which the firm operates. In short,
End-User -> Currency Overlay (provided by Financial Consultant) -> Bitcoin
Overall, this seems like a fairly sane first step in integrating Bitcoin services into the existing financial system. Bitcoin is not just a currency-hedging strategy, of course. It is a unique commodity currency in and of itself. But, for jurisdictions that do not yet recognize it as such, this method can be used to abstract away the uniqueness of Bitcoin and help it to fit into the existing regulatory framework.