This was discussed 2 or 3 weeks ago, when the government's position on bitcoin was first released. They consider exchanges and bitcoin transaction processors (i.e,. Coinbase) to be money transmitters subject to regulation.
Individual users (miners, bitcoin holders) are not money transmitters subject to regulation.
> This was discussed 2 or 3 weeks ago, when the government's position on bitcoin was first released.
The guidance on the "Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies" was released almost 2 months ago (March 18, 2013.)
> They consider exchanges and bitcoin transaction processors (i.e,. Coinbase) to be money transmitters subject to regulation.
True.
> Individual users (miners, bitcoin holders) are not money transmitters subject to regulation.
Less completely true. Per the guidance [1], anyone who "buys or sells convertible virtual currency for any reason is a money transmitter [...] unless a limitation to or exemption from the definition applies to the person", and more specifically with regard to miners "a person that creates units of convertible virtual currency and sells those units to another person for real currency or its equivalent is engaged in transmission to another location and is a money transmitter."
Individual users (miners, bitcoin holders) are not money transmitters subject to regulation.