How does anti–money laundering policy apply to Bitcoin, and what compliance steps must I take?

Bitcoin does not have any AML policy in itself (either in the protocol or in the currency). AML policies would have to be implemented as a rule-set when doing fiat-bitcoin or bitcoin-fiat transactions. You can also implement it within the bitcoin system, but with the wallets being anonymous, it would be a tough challenge to maintain it in a credible manner.