In other words, it’s time for Bitcoiners to follow the rules.
The irony is that NY despite being heavy handed with regulation has a rather narrow statuatory definition of money transmission. It is highly unlikely that exchanging one currency into another meets that criteria (hint conventional currency exchangers are not money transmitters under NY law).
The regulators even commented on the fact that they likely will need to use the power to expand the scope of regulation to cover virtual currencies
AS THE EXISTING REGULATIONS DO NOT COVER THAT ACTIVITY.So how exactly would Bitcoin "follow the rules", when the rules as written today this 30th of January, in the two thousand and fourteenth year of our lord aren't applicable? Somehow use precognition and follow the rules today, that regulators will think of next year?