That leaves a solid 6 percent profit on the table. If anyone who has a Japanese bank account would like to team up to make this happen, let me know. I have bots which can do the trades efficiently and high volume mtgox and bitstamp accounts (= lowest fee tiers). I also have access to enough capital to make it worth while. Only thing I don't have is a Japanese bank account in the hands of someone I trust. Or do it yourself, I will applaud you and help in any way I can. I agree with joesmoe2012, this needs to be done for the good of the whole system.
That person will become a money transmitter immediately and after successful transfer of some couple of millions out of nowhere I bet he will have some serious paper work to attend to.
I don't see any basis for this. If your'e just sending money from your account at one exchange to your account at another, you are not a money transmitter. A money transmitter is someone who as a business transfers money to/from a third party.
In this case there is no third party, at all time the money remains in your accounts.