...
All miners will have to register as money transmitters under FinCEN regulations, same as the issue for Dash masternodes. There has seriously bad implications in their investment strategy. But their code and developers are valuable. The investors can probably recover their money on the initial IPO. They should IPO the damn thing and do it legally and not mess with this "master of the universe" idea above.
I am contemplating contacting them, but I need to think through their economic options. It may be impossible to get them to do the right thing.
But they could definitely benefit from my endorsement in an IPO. A legal IPO! As well, they could benefit from my block chain tech.
...
Miners do not have to register as MSBs. Please read the guidance.
https://www.fincen.gov/news_room/rp/rulings/html/FIN-2014-R001.html The jury is very much out on Dash masternodes. How will the investors recover the funds from an IPO? If it is by emission then the IPO company is an MSB in the United States.
My interpretation of FinCEN guidance is miners would have to register as MSBs if they are forced to transfer some of the coinbase to some other party. Just because it is enforced by the protocol, doesn't absolve the miner from (the legal culpability of) creating the block which created new supply and transferred it to a third party.
Disclaimer: IANAL.