AI Coin cannot sell the coins created without requiring a MSB license. We were in the process of obtaining a FinCEN license, which is a US Federal License that specifies what sort of reporting is required to FinCEN. That agency routine accepts registrations. Our would-have-been partner exchange Bittrex is already registered with FinCEN, but not licensed in the 48 US States as an MSB.

Our attorneys said that all US cryptocurrency exchanges are categorized as MSBs as they interpret the FinCEN guidance issued last year. Although that requirement is not being enforced currently, AI Coin would have no available means of exchange in the USA should it have launched without the licenses, and a crackdown by the States shut down all the altcoin exchanges in the USA.