Quote from: repentance on March 19, 2013, 01:15:00 AM

Quote from: Malophor on October 25, 2012, 08:43:45 AM

I wonder if it changes if you send a physical print out of a private key or mt. gox code.

Probably not. "Real currency equivalent" is specifically mentioned and that would almost certainly apply to MtGox codes.

Selling someone the private keys would almost certainly be regarded as "transmission" as that recipient then has effective ownership of the "units of convertible currency".

I kinda seen this coming hence moving my business offshore, As the first person to sell Bitcoin-Key's for credit card and latter copied by BTCquick, I talked to a informed member of the gov who warned me of this move. Of course If I would have said anything Like I did about the S.E.C. I would have been throwing fud or whatever you have it.
But I can tell you right now that
BTCquick
ZIGZAP
Cash for Bitcoins LCC
will all have to comply or cease operations, which sucks, cause its going to cost into the 5 to 6 digits to get all that crap sorted out and be in 100% compliance just ask Bitinstant. Doing this with in the 6 month period will be doable but we are in a sequestration right now and I am sure this will reflect on the processing time.
http://www.fincen.gov/financial_institutions/msb/msbrequirements.html

Now this brings up the states your U.S. registered company does business in, now they want a cut to. So every state you have customers you buy or sell to, you will need to be registered in that state as well, just like good ole paypal.
North Carolina Requires 500k capital
http://www.dfi.ca.gov/Licensees/money_transmitters/default.html
3,500 app fee lol
http://www.banking.state.tx.us/forms/forms.htm#msb
I know one of the companies listed above is a a Delaware company
http://banking.delaware.gov/services/applicense/tmvintro.shtml
http://delcode.delaware.gov/title5/c023/index.shtml
Its a little cloudy I just skimmed it quick

But it seems if you live in the USA and want to trade coin you are going to need more then 100k to do it.