Heh, and thats the easy part!
You also need to do the following, just off the top of my head:
- Quarterly audits that you pay for
- Every 6 weeks you need a verified and updated AML Program
- Attend BSA training twice a year
- Bend over backwards and get anally raped every day....
Are there different classes of MBS, all with their own additional requirements? My understanding is that the business that the OP is proposing is somewhat different to that operated by BitInstant. Are they likely to be subject to more regulations as they'll actually be selling BTC direct to the public rather than operating as a platform for others to trade BTC (like MtGox) or a conduit for getting funds into exchanges quickly (like BitInstant)?