The blog post is premised on a fundamental misunderstanding of what a "money transmitter" is for regulatory purposes, presumably because they based their understanding on FinCEN's overview page rather than reading the regulations themselves.
The definition of a money transmitter is a person or company that receives money (or other measure of value) from one party and sends that money/value store (sans any charged fees) to a third party. (https://www.law.cornell.edu/cfr/text/31/1010.100#ff_5)
Miners verify transactions, but crucially don't take custody of the money/value store at any point. Paypal and Venmo are money transmitters, because they do take custody of money in transit. (Stubhub and Airbnb are not money transmitters because the regulations exclude companies that only act as payment processors to facilitate the exchange of goods and services, see (ff)(5)(ii)(B) and (F) of the exclusions in the linked regulation)
So this blog post is much ado about nothing and will generally be ignored by the people who actually matter, i.e., FinCEN and other regulatory agencies with jurisdiction, because they generally tune out people who can't get the basic foundational things right.
The definition of a money transmitter is a person or company that receives money (or other measure of value) from one party and sends that money/value store (sans any charged fees) to a third party. (https://www.law.cornell.edu/cfr/text/31/1010.100#ff_5)
Miners verify transactions, but crucially don't take custody of the money/value store at any point. Paypal and Venmo are money transmitters, because they do take custody of money in transit. (Stubhub and Airbnb are not money transmitters because the regulations exclude companies that only act as payment processors to facilitate the exchange of goods and services, see (ff)(5)(ii)(B) and (F) of the exclusions in the linked regulation)
So this blog post is much ado about nothing and will generally be ignored by the people who actually matter, i.e., FinCEN and other regulatory agencies with jurisdiction, because they generally tune out people who can't get the basic foundational things right.