They create a virtual currency, even if it is decentralized. This includes creating altcoins. In fact, Satoshi would have commited a crime creating Bitcoin without registration. (200.2n5)
I don't agree with this interpretation.
Quote
200.2m: Virtual Currency means any type of digital unit that is used as a medium of exchange or a form of digitally stored value or that is incorporated into payment system technology.
200.2n5: controlling, administering, or issuing a Virtual Currency.
200.2n5: controlling, administering, or issuing a Virtual Currency.
So, by their definition, VC is the currency, not the protocol. Satoshi has published Bitcoin the protocol, but he has never "issued" Bitcoin the currency.
Mastercoin and Ripple could be in trouble, though.
And Nxt, NEM, any coin that IPO'd and possibly any coin that was instant/ninja mined.
I would also say that ALL proof-of-stake coins are "controlled and administered" by the developers in order to bypass the nothing-at-stake problem therefore giving them administrator privileges over the blockchain (for example, Vericoin devs just forked their blockchain to undo the theft from Mintpal).
Legitimately mined coins would be fine IMO. I expect sidechains and spinoffs would be fine too. I'm not sure about proof-of-burn coins (e.g., Counterparty).
nem didnt ipo.
in an ipo you get a certain amount of coins based on investment.
with nem you basically paid a tiny fee to register as a stake holder and by doing that you get an equal share. the fee gradually increased over time so people did not get x amount of coins based on money invested.
and what vericoin did cant be done to nxt due to rolling checkpoints. its all in the whitepaper but obviously no one reads those anymore.
