Thus, the DOT's interpretation of BSA are going to be granted quite a bit of deference. This won't ultimately matter when it comes to Mutum Sigilum's defense, but it is what matters in the long haul, when the DOT finally gets around to promulgating BTC regulations.
Could they write new regulations? Sure, but they haven't done that yet.
Were Mutum Sigilum's actions prohibited under the current rules? That's not so clear.
So, were the federal agencies acting "correctly" in taking down Mutum Sigilum? I'm not sure that it matters. Will the charges stick? Well, it isn't even clear what the charges will be just yet. I am sure of one thing, though: it's going to be fun to read the briefs!
The basis of the seizure warrant was 18 USC section 1960. So that's what we're dealing with right now. Could the feds add some additional charges? Sure, but that hasn't happened yet. You're proposing a lot of hypotheticals, and it's not yet clear how this will play out.
You're right this is going to be an interesting case.