Hello Eric, An interesting discussion we can have on this subject.
I should have been more acurate. I do not know US laws. My lawyers are in Canada and are concerned by Canadian laws. I can only suspect that our laws are similar. Maybe they are not. Good for you if you think that you are not subject to this definition by Federal Department of Treasure and the Financial Crimes Enforcement Network of the U.S. Gov. If you have a link to this law, I will be happy to read it and comment. Possibly your legal advisors are very liberal. Maybe you should get a second and a third opinion, something I did here. What I know is that in Canada we are consider as money transmitters. And that cost me quite a bit of lawyer fees to know it. We deal with money..both when we received cash deposits, wires, money orders or else and when we transfer a gold currency from our account to our customers account. > In the USA, M.T.'s are regulated as heavily as banks are > (think Western Union) and have their own mountain of regulations > (including license, bonding, and insuring requirements in some States) > which must be adhered to. In Canada, M.T. (and therefore gold currencies exchange brokers or whatever name you want to call them) are also regulated by a new law. The law is not completely in force but will be soon. At Ormetal Inc., we operate according to this law and will adjust all our future operations to make sure that we always comply. > While I cannot speak for other Market Makers in the USA, I CAN and > WILL publicly state that Gaithmans Gold Nation, Inc. is NOT a Money > Transmitter. We are a "Buyer and Seller of Stored Value". In my opinion, this is like an ostrich who has its head in the sand. Be very careful. That stored value is a digital currency, its money. Claude Ormetal Inc. --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
