What money transmission licences are relevant to Bitcoin? Tradehill was shutdown for various regulation issues, including not having the required money transmission licenses.

What were the money transmission licenses that were required?

What other compliance rules should be followed?
Tradehill got shutdown because it went bankrupt when Dwolla started reversing money transfers made to them despite their terms of service stating that no chargebacks could occur (at the time). There is currently a lawsuit pending.

The required licenses will vary depending on the legal context and the interpretation of the business, made by the relevant legal authorities.

There is a lot of legal uncertainty surrounding Bitcoin, but there is one thing that is pretty certain : in all jursidictions you need a license to maintain fiat-denominated balances on behalf of third-parties.