FinCEN released guidance for miners http://cointext.com/fincen-issues-bitcoin-friendly-ruling-for-miners/
well this was better than the Slovenian guidance, in Slovenia Mining is treated as undeclared work in which miners will have to pay a fine for it and then Taxes..... well congrats for US miners.
Quote
To the extent that a user mines Bitcoin and uses the Bitcoin solely for the user’s own purposes and not for the benefit of another, the user is not an MSB under FinCEN’s regulations, because these activities involve neither “acceptance” nor “transmission” of the convertible virtual currency and are not the transmission of funds within the meaning of the Rule. This is the case whether the user mining and using the Bitcoin is an individual or a corporation, and whether the user is purchasing goods or services for the user’s own use, paying debts previously incurred in the ordinary course of business, or (in the case of a corporate user) making distributions to shareholders. Activities that, in and of themselves, do not constitute accepting and transmitting currency, funds or the value of funds, are activities that do not fit within the definition of “money transmission services” and therefore are not subject to FinCEN’s registration, reporting, and recordkeeping regulations for MSBs…
FinCEN therefore concludes that, under the facts you have provided, Atlantic would be a user of Bitcoin, and not an MSB, to the extent that it uses Bitcoin it has mined: (a) to pay for the purchase of goods or services, pay debts it has previously incurred (including debts to its owner(s)), or make distributions to owners; or (b) to purchase real currency or another convertible virtual currency, so long as the real currency or other convertible virtual currency is used solely in order to make payments (as set forth above) or for Atlantic’s own investment purposes. Milly Bitcoin’s Mining Rig
FinCEN therefore concludes that, under the facts you have provided, Atlantic would be a user of Bitcoin, and not an MSB, to the extent that it uses Bitcoin it has mined: (a) to pay for the purchase of goods or services, pay debts it has previously incurred (including debts to its owner(s)), or make distributions to owners; or (b) to purchase real currency or another convertible virtual currency, so long as the real currency or other convertible virtual currency is used solely in order to make payments (as set forth above) or for Atlantic’s own investment purposes. Milly Bitcoin’s Mining Rig
well this was better than the Slovenian guidance, in Slovenia Mining is treated as undeclared work in which miners will have to pay a fine for it and then Taxes..... well congrats for US miners.
This has nothing to do with taxes. This is to determine whether FinCEN has any regulation. FinCen doesn't have anything to do with taxation.
Anyway, funny how they refer to their monopoly money as 'real' money
it is not only about taxes, a miner doesn't need a licence for a money transmitter in the US, but mining in Slovenia will be treated as undeclared work which is illegal and on top taxes you will pay a fine for it, so in order for a Slovenian miner to continue mining under legal conditions he has to open a business, which means there is no room for small miners.... Mining will be more centralized this way
it is funny though, the definition of undeclared work is "offering a service or doing a work for individuals or companies for a reward/payment" but in the mining case you are not doing it for anyone the Bitcoin protocol compensate you with bitcoins so there is no individuals or companies behind it which the Slovenian regulators doesn't get I guess...
glad you like it. 
