Re: Neteller Update...
[ QUOTE ]
It's my opinion, that the Regs won't have to prohibit transactions with e-wallets for us to see Neteller remove itself from I-Gaming transactions. At this time, I fully expect that Neteller will act as if it is a bank subject to the Regs... and if the Regs say no business with I-Gaming sites, then Neteller will pull out of those transactions.
[/ QUOTE ]
Exactly. Neteller is clearly stating their intention to comply with the upcoming banking regulations as if they were a U.S. financial institution.
You are not going to see UIGEA regs requiring banks to block deposits to e-wallets. People speculating about the banking lobby blocking such regs are overlooking the obvious--they already did it. They got their protections put into the law itself. The UIGEA only provides for blocking illegal gambling sites and their captive financial institutions. Regulations that cause legitimate transactions to be blocked are specifically disallowed. Any UIGEA regulation blocking transfers to independent financial institutions such as typical e-wallets violates the plain language of the law that created it and is unlikely to last long in court.
|