Official US CUstomer Neteller Statement

[BleedDodgerBlue]

US Member Update: 1st October 2006
On Friday 29 September 2006, the US Congress passed legislation which includes certain provisions to prohibit unlawful internet gambling through the restriction of payments to such sites.

The Bill states that there will be a period of up to 9 months for the US regulators to prescribe regulations requiring each designated payment system and all participants therein to identify and block or otherwise prevent or prohibit restricted transactions.

It is currently unclear how NETELLER, a European company, with no assets, presence or employees in the US, would be affected by this bill. Once the regulations have been written, NETELLER will have a clearer view of which companies are affected, how those companies will be expected to comply, and any possible resulting impact on NETELLER and its US facing business.

NETELLER continues to operate its business as normal.

Over 3 million customers in 160 countries trust NETELLER to transfer over $7 billion each year. The company is authorized in the UK by the Financial Services Authority and listed on the AIM market of the London Stock Exchange. To protect its customers? money, all deposited, in-transit, and un-cleared funds are held in Trust Accounts.

 

[MadJack]

thanks

 

[countinguy]

One interesting thing I read about on another forum and actually already knew it from a couple yrs ago.

Neteller blocked all Maryland residents from using their service because of state law. So people don't think for a second they would block out the rest of the US also. Neteller operates in 160 countries and they want to continue operating, unfortunately they will abide by whatever the US tells them to.

My guess we are heading into a direction like buying foreign country prepaid phone cards, I know party already uses something like this. But I have no idea how something like this cashes out.

Keeping my fingers crossed, don't like where this is heading.

This reminds me of 2 other things that happened years ago, but I was pissed off about back then, which are meaningless now.

First one was AOL pulling the sports gambling forum, no warning, no reasoning, just poof one day GONE, but actually ended up being a good thing since that is how i found madjacks.

Second one was Paypal being bought by ebay and paypal shutting off transfers to gambling sites. and lo and behold Neteller arrives.

So I am sure one way or another wie will have books to deposit money to and poker rooms.

 

[IntenseOperator]

Time for some sharp entrepeneur (spelling , I'm tired) to figure out a new company to beat the current rules and regs