These licences are total bullshit.
The purpose of Bitcoin is to free ourselves from this kind of tedious red tape and state involvement in personal finance.
Fuck the bureaucrats. This adds NOTHING to Bitcoin or its economy. Its just another source of drag that would seek to make Bitcoin no better than fiat currency after burying it in red tape.
I read through all of these comments and I really don't understand the uproar. I read this as both reasonable and expected. It simply says that exchanges, brokers, and online wallet services need to have 100% BTC reserves and follow standard IRS and AML guidelines. These types of institutions are Bitcoin's intersection to the traditional finance system and these regulations are standard. This gives avenue to the liquidity that the bitcoin markets desperately need while still taking a hands off approach in the retail and consumer sectors of the bitcoin economy.