Does anyone have thoughts on whether the same legal issues BitMit ran into in Hong Kong would also apply in the U.S.? Does it make any sense for U.S. citizens to attempt to purchase BitMit? I haven't seen this discussed on other threads, though I may have missed it.
Maybe.
The issue was whether an escrow service was subject to a Hong Kong law regarding money transmission. The relevant US law would be 31 USC § 5312, which applies to a "financial agency" defined as "a person acting for a person ... as a financial institution, bailee, depository trustee, or agent..."
It also lists 26 categories of "financial institution" which are subject to recordkeeping and reporting requirements. Escrow services are not specifically listed.
Does it apply to escrow services? Maybe not, but the wording is fuzzy enough that someone might get in trouble depending on how the arrangement is set up. Talk to a lawyer if you plan on doing this.