A few weeks ago, our previous French bank closed our bank account despite knowing about our activity, which we explained fully before starting. We challenged this decision in court, to which the bank tried to defend itself by saying "Bitcoin is an electronic money, Macaraja is not a bank, therefore it's illegal for Macaraja to be handling this". The court replied that it was not up to the bank to decide this, and ordered the bank to re-open the account.
I'll be extremely interested to read the Court's decision (not the summary civil court one, but the later one). The relevant part of the Directive 2009/110/EC (Electronic Money Institutions Directive) reads:
2. "electronic money" means electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is issued on receipt of funds for the purpose of making payment transactions as defined in point 5 of Article 4 of Directive 2007/64/EC, and which is accepted by a natural or legal person other than the electronic money issuer;"Your best defence is to claim that you are not the issuer.
However, that would still not solve your problems in Europe, as you may still need to register as a credit institution in order to take deposits and keep accounts. You actually may be better off as an electronic money institution than as a credit institution.