Mt.Gox Co. Ltd registered to be compliant MSB with FinCEN

[relm9]

Wait.  
An internet form was filled out possibly by MtGox with following address:

Street Address: 615 S Dupont Hwy
City: Dover
State: DELAWARE

MtGox made no official comments.  It may be a prank or a stall tactic.  Am i missing anything (serious question)?
Edit:  Where did the word "approved" in the thread topic come from

http://www.fincen.gov/financial_institutions/msb/msbstateselector.html

Filed 6/29

It is no prank.

[kjlimo]

Will Dwolla come back now?

How much longer till I can transfer out via Dwolla?

[bitcodo]

Why would Mt.Gox be able to resume USD withdraws without registering as a money transmitter in all 50 states?  This won't happen for a very long time.  Why are you defending Mt.Gox, the facts are brutally honest about their liquidity position.

To be able to operate in all 50 states, each with their own rules, requires, all-in, $2.5 million in total lawyer fees, licensing fees, compliance officers, etc.  An additional $25k / mo to maintain.  And 18 months from initial registration.

Source : I asked Patrick Murck, the Bitcoin Foundation General Counsel at a gathering in DC at 1776.  That was his response.

+ minimum $7 million for surety bonds http://msbtalk.wordpress.com/2013/05/23/surety-bond-faqs-for-bitcoin-exchangers-and-administrators/

Recent Trade Volume
Interval    Volume (BTC)    Volume (USD)    Weighted Price
15min      29.21    2,892.69                  99.0263
1h          1,099.21    109,464.22             99.5848
4h          2,600.88    257,006.24            98.8152
12h        11,360.53    1,118,007.44         98.4116
1d        18,513.50    1,820,855.24          98.3528
2d        58,743.84    5,793,044.40         98.6154
7d       300,949.85    27,907,159.72         92.7303
30d     1,202,564.31    109,418,171.62         90.9874
6m    13,202,588.49    1,135,424,638.50    86.0002
1y    20,517,244.06    1,219,845,094.21    59.4546

So this is like 2 1 to 2 years of gox fees, but they must pay other bills. They need more money!

[zby]

How does that square with the fact that MtGox does not let its customers withdraw their money for nearly a month now?  Doesn't FinCEN have regulations about this?

[bitcodo]

I didn't read the article, so I made a mistake. So just 2.5 millions (including surety bonds)- that is cca 1 years fee.
http://thegenesisblock.com/town-hall-discussion-with-gavin-andresen-and-patrick-murck/

How does that square with the fact that MtGox does not let its customers withdraw their money for nearly a month now?  Doesn't FinCEN have regulations about this?

Yes they have. They actually don't allow gox to let you withdraw money. You will have to wait 1 to 2 years.

How hard is it to get registered as an MSB?

(PM) There are two significant barriers: money and time. The minimum I’ve seen 50 state licenses done is for $2M in fees and surety bonds, and takes about 1.5 years to go through the licensing process. During the 1.5 years you’re not allowed to operate at all, even under a provisional license. This obviously causes concern for investors, because there is a signfiicant amount of money tied up for a long period of time, and no way to prove the business model before hand. An alternative is to work as an agent under another company’s MSB license, but you still have to make sure you comply with Anti-Money Laundering (AML), etc.

PM=Patrick Murck, General Counsel for the Bitcoin Foundation