This is more directed towards the Guncoin folks, but all firearms owners should take note of this info.
This year, the BATFE (Bureau of Alcohol, Tobacco, Firearms, and Explosives) made a serious boo boo (for them, it's good for us common plebes), and even admitted to it. Some of you may know that since 1986, the manufacture, possession, and sale of machine guns has been restricted to law enforcement and other government agencies, and the sale to individual persons was banned. Machine guns registered with the ATF prior to the closing date of the MG registry in 1986 are still transferable, but cost tens of thousands of dollars, in addition to the $200 tax you must pay for the NFA (Nat'l Firearms Act) item you want.
Recently, the ATF said that NFA trusts are not considered to be "persons" under the definitions outlined in the 1986 Firearms Owners Protection Act. Several people submitted ATF Form 1s (
http://www.atf.gov/files/forms/download/atf-f-5320-1.pdf), with the applicant being the name of the trust, and the intention of manufacturing a transferable machine gun. The ATF approved the forms, and the machine guns (one of them being an M-16) were manufactured. Since then the ATF has had their panties in a bind trying to figure out how to close the can of worms they just opened.
Here's a link the the AR15.com discussion thread:
http://www.ar15.com/forums/t_1_5/1624460_ATF_approved_post_1986_machine_guns_for_NFA_trusts__legal_action_pending__updated_9_16_14.html&page=1There are also legislation being brought to the floor that would dissolve the BATFE into the DEA and FBI.
http://townhall.com/tipsheet/katiepavlich/2014/09/17/legislation-introduced-to-get-rid-of-atf-n1893092http://www.washingtontimes.com/news/2014/sep/17/top-goper-says-its-time-dissolve-atf/tl,dr: The ATF approved the manufacture of new transferable machine guns
by accident (not really), and are now freaking out about how to unfuck the situation. This is a good thing, and a win for freedom.