Tateru's article specifically targeted non-US regulatory bodies. Although Australia also operates under a Common Law system, Brazil (and the rest of the non-English-speaking world) doesn't.

Under Civil Law systems, what is not explicitly permitted is usually forbidden — this means that anyone operating a bank or any kind of financial service without a (local) license will indeed likely be liable under their (local) laws.

It's the Common Law systems that have to explicitly forbid something — and if they don't, they're implicitly allowed. So, the advice is to make sure you establish your virtual bank/financial service in the US or on any other country under a Common Law system. Be advised, however, that even some countries under a traditional Common Law system are slowly changing over to a "hybrid" of both models, Canada being one of them (and even the UK starts to show signs of this "hybridisation")...