Regulatory Issues
In September 2004 several Australian based e-gold currency exchangers voluntarily ceased operation as they did not hold an Australian Financial Services licence (AFSL) . Australian based DCEs that elected to close, due to the Australian Securities and Investments Commission (ASIC) licencing requirements, included:
- goldex.net
- sydneygoldsales.com
- ozzigold.com
In July 2006 Gold Age was closed down by US government authorities following the arrest of the owners, Arthur Budovsky and Vladimir Kats, on account of not having a New York state "money transmitters" licence.
In April 2007, the US government ordered e-gold administration to lock/block approximately 58 e-gold accounts, owned and used by The Bullion Exchange, AnyGoldNow, IceGold, GitGold, The Denver Gold Exchange, GoldPouch Express, 1MDC (a Digital Gold Currency, based on e-gold), and others, and forced G&SR (owner of OmniPay) to liquidate the seized assets . In addition, a few weeks later, e-gold themselves were indicted with 4 indictments. However, e-gold are still in business, and are growing at the rate of approximately 95,000 new accounts per month . Here is the DoJ release and here is the rebuttal by Douglas Jackson, CEO (archive.org copy).
In July 2008, Webmoney changed its rules, that affected many exchangers. Since that time it became prohibited to exchange Webmoney to most popular e-currencies like e-Gold, Liberty Reserve and others: https://newsblog.wmtransfer.com/asp/messages.asp?date=2008-7-23&blogID=6
Read more about this topic: Digital Currency Exchanger
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