Perfect money will be shutdown soon ?

[FxMaster]

What the hell is going on read this....

Dear Perfect Money Customers,


We bring to your attention that due to changes in our policy we forbid new registrations from individuals or companies based in the United States of America. This includes US citizens residing overseas. If you fall under the above mentioned category or a US resident, please do not register an account with us.

We apologize for inconvenience caused.


https://perfectmoney.com/news_view.html?id=342

 

[Pharaoh]

The USA went after Liberty Reserve for several reasons. One item that gave them legal grounds to pursue the company is that it was providing banking and money transfer services to US citizens without being registered in the US.

I am happy to see the government trying to protect US Citzens and residents. On the other hand, does a company that does online business need to register in each country, state, and city that it has clients in? If so, consider this to be a warning that the USA is getting ready to opt out of participating in ecommerce outside of its own borders.

The USA already demands that foreign banks report accounts belonging to US citizens. How would the USA react if every country in the EU demanded that all bank accounts belonging to European citizens (even those holding US permanent residency cards) be reported to the government in Europe.

How would the USA react if PayPal or any other currency transfer service was required to register with every country that had a single citizen (whether living in that country or anywhere else, including the USA) as a client?

 

[RahmanSL]

Seems to me that as Communist China, after years of isolation, slowly liberalize & open their doors to external trades & ideas, the great old U.S of A is slowly closing theirs.

 

[Pharaoh]

The Chinese have always been far more pragmatic on financial issues.

"If a bank fails in China, they behead the men at the top of it that was responsible...If we beheaded all of ours that were responsible for bank failures, we wouldn't have enough people left to bury the heads." - Will Rogers. 1927


I'd love to see how the US Congress would react if China imposed the same rules that the US is trying to impose on banks all over the world. Would Republicans and Democrats just say "the rules work both ways" if China demanded that the USA reveal info for every Chinese citizen who has an account at any US bank that the US?