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Topic: MtGox generation of USD redeemable codes will stop at 10 Apr 2013 - page 2. (Read 12958 times)

hero member
Activity: 868
Merit: 1000
Thanks a bunch, coinbase.

Coinbase has nothing to do with this.  It's Coinlab who will be servicing MtGox's US and Canadian customers.

It's also MtGox who has decided they don't want to deal with the crap associated with USD transactions - they want out of the US market, so this is just part of that process.  I suspect people would be whining even more if MtGox closed off their services to US customers entirely rather than transferring those customers to an intermediary.  At least this way they can insulate MtGox itself and its non-US customers from the risks associated with servicing the US market while still allowing US customers to trade on MtGox.  It would have been far, far worse for US customers had they just withdrawn from the market entirely.

legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
Wow that's too bad. That kinda puts bitinstant out of business, doesn't it?
full member
Activity: 179
Merit: 100
thanks! now found in bottom left corner )
legendary
Activity: 3038
Merit: 1032
RIP Mommy
If you can't see your own link under the last post in the topic, here it is: https://bitcointalk.org/index.php?action=movetopic;topic=151081.0
full member
Activity: 179
Merit: 100
I can’t find here any tool to move topic... or you mean I need open another in  "..\ Marketplace > Service Announcements" section?
legendary
Activity: 2058
Merit: 1005
this space intentionally left blank
Thanks a bunch, coinbase.
sr. member
Activity: 476
Merit: 250
This might drive the price of bitcoins up as people will have to do more trading on the blockchain rather than via gox codes.
legendary
Activity: 3038
Merit: 1032
RIP Mommy
legendary
Activity: 1372
Merit: 1008
1davout
Redeemable code = ability to transfer money between accounts = you're a bank or a payment institution.
Took them quite some time to realize that Smiley
full member
Activity: 179
Merit: 100
it seems users on MtGox starts to receive this letter since yersterday. It comes right after you generate USD code.
full member
Activity: 196
Merit: 100
This is kinda bad news... On the other hand I didnt get that memo?
full member
Activity: 179
Merit: 100
I got this letter today from [email protected]
-------------------------------------------------------------
Dear ######,

You are currently making use of a system which will be deprecated on Wed 10 Apr 2013 12:00:00 AM GMT:
Generation of USD and CAD redeemable codes will not be possible due to legal issues

Please note that after this date, using this system won't be possible anymore and will instead lead to an error.
Thank you for your attention.

System Staff
--------------------------------------------------------------

Any suggestions what are the "legal issues" and what they a going to do instead redeemable codes?
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