Anyone got news from e-gold recently?
E-gold is still online, but at the moment you may not be able to exchange your fund out. E-gold has been in business since 1996, until it came to it’s biggest challenge when US government tried e-gold for child pornography. The accusations were not only for being intermediary of child pornography payment system, but as the medium for terrorists funding method. The founder admitted guilty and went to home imprisoning, and discharged few months later. There were some fines, I’m not sure how much. E-gold also must cooperate with the government and redesign it’s verification procedures.
I followed every emails and alert sent by e-gold, including updating my personal information and uploading proofs of identity. Latest progress, I was advised by e-gold to change type of ownership from ‘personal’ to ‘business’. That was because e-gold found that I have run business transactions. It might be true, I got paid for running and ads campaign on my website. So if it is a business, then let it be. But perhaps later e-gold will ask me to fill up information about my business identity. There might be problem though, because I run it as personal assignments, and I don’t have business identity in that sense.
So anybody else ever contacted by e-gold, or have any feedback from this company?
7 July 2010
Updates received from e-gold:-
“Thank you for performing the update, please note e-gold spends have been temporarily suspended. We are, however, working diligently to develop a means by which account Owners will be able to access the value in their account, called the Value Access Plan.”