Here's an interesting question: A miner set up a VPS in another country and mines with a pool here, the pool sends all of the bitcoins to a wallet located on the VPS in another country; then the miner exchanges those mined units on an exchange located outside of the country. Since the bitcoins were never located in a state that licenses "money transmitters", would this be possible and not violate the guidance?
On that fact pattern, nobody is actually located in the US or doing business with US citizens? I don't believe US regulators would have any jurisdiction over the miner.
If the miner is a US citizen residing in the US, then it's a closer call.