You're responding to something other than what I'm talking about.
Of course the laws still apply, but the enforcement mechanisms (which have thus far been administered via institutions) can now be circumvented to a certain extent.
It is a fundamental conflict and adjustment will be required.
I was trying to address directly that point. Pre-bitcoin, you could avoid the enforcement mechanisms with hard cash and a barrow. There was a long running British sitcom called "Only Fools and Horses" that dealt with this quite thoroughly.
edit - If fleshed out a bit, the premise behind this project might actually make quite a good 21st century sequel episode. Del Boy would love bitcoin.
Except you know it would be a complete balls up, of course. Rodney would be all excited about the idea of Bitcoin, convince Del Boy on it, and then they'd start up their own TITcoin (Trotter's Independent Traders, of course) which would totally fall on its arse ;-)
Well, despite containing fictional characters, I think this may be a more convincing explanation of what occurred behind the scenes at MtGox than any that has so far been publicly announced.
