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yes but you only become a money transmitter when they confirm that bitcoin is money, prior to that it could easily be considered a commodity the same as any oth
by celticninja 14y ago
yes but you only become a money transmitter when they confirm that bitcoin is money, prior to that it could easily be considered a commodity the same as any other good, thus people were sending $ to buy a commodity. After FinCen changed the playing field they should then have required businesses dealign with BTC to update forms or resubmit, not go crazy shutting things down. but that is how the US govt works, without sense, just blunders in. Much like the DefenceDistributed issue, they come blundering in and make things more difficult for themselves in the long run.