I know very little about Bitcoin or money transmission laws. Unlike other currencies it does not seem to have fundamental dependence on any centralized arbiter, though the practicalities of large exchanges like Mt. Gox seem apparent to me. That lack of dependence on a Fed-like body appears to me like its biggest advantage, above any other potential for anonymous payment and laundering. I'd like to know what exactly is entailed in becoming compliant with money transmitting and laundering regulations and whether Bitcoin in its current form could become effectively compliant. Is that even a meaningful concept, or does the structure of Bitcoin fundamentally preclude coming into effective compliance?