tl;dr FBI doesn't care about bitcoin... yet
FBI has chosen at the moment to defer operational jurisdiction, so that bitcoin businesses may be enrolled in the United States Treasury Financial Crimes Enforcement Network and in the States in which they operate.
If MSBs do not comply I'm sure you will find that the FBI/EOUSA starts to care. Failure to license and register the business may result in prosecution under Title 18 U.S.C. § 1960 "PROHIBITION OF UNLICENSED MONEY TRANSMITTING BUSINESSES."
Ok, that is funny
See the problem is, unfortunately, the U.S. has lost its way and a lot of its power to tell others what to do. The Laws that they are trying to enforce are for the most part ignored everywhere else. Hence, a vacuum is being created which is sucking all the business out of the United States. Big businesses have enough 'pull' to ignore the rules and set up shops overseas. Small Businesses and Personal accounts are left to the vultures.
So, I would suggest that 'we' get with the program and bend like a reed in the wind rather than be a brick wall trying to hold back a tidal wave.
Under that law, if you take money from someone to give to someone else, you are guilty. Think about that. It is a badly written law. There should at least be a qualifying clause before it can go into effect: Such as once the annual revenue reaches a preset amount adjusted to the CPI.
The ABA thinks there may be nearly ten thousand laws, the Congressional Research Center has lost track. So, narrate what you did today and a lawyer can tell you how many laws you broke. It is no longer about the 'law' because we know that the only reason the 'law' is there now is to punish people they want to punish. It has stopped being there to 'serve' the people.
Any 'law' that is unenforceable is by definition: A moot point. Illegal or legal matters not when one can't enforce the 'law.'
With the above noted, I don't mean to be complicit in money laundering or the use of 'blood' money. However, it is a world economy now and not sets of local ones. Why doesn't the Law Enforcement Agencies try to stop the crimes that require the use of money laundering rather than trying to stop money laundering?
So when you come in and state the 'LAW', please consider what it is there to do now. It is there to keep the 'small' guys from taking business from the 'big' guys and NOT to create a fair and equal playing field for the people. Yes, the criminal element will take advantage of monetary systems. Did you think that would ever stop? So, Mr. FBI agent get up off your seat in front of your computer and get in the game. Seriously, your not going to catch the big fish that really do harm to people because they pay more and hire the best and brightest away from you. You know, like BoA, WF, UBS, HBSC, EXXON, BP, etc... They are in the majors while you are still playing in the minors. They have developed methods of communicating with out really communicating using innuendo, hunting trips, fishing trips, sailing trips, golf, etc... The places with out, you got it, computer and cell phone usage.
However, 'I have a Dream' that one day every individual on the planet could easily and effectively transfer currencies among themselves without fear of repercussions from governments. I have a Dream to empower the people and put the money back into their control. I have a Dream that governments will be forced to serve the people rather than the people serve the governments. I have a Dream that rather than people fearing the Governments that the Governments will fear the people. I have a Dream that a person's sweat and labor goes towards themselves and not towards overburdensome taxes.