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Topic: What will a happen to mtgox codes when COINLAB takes the money??? (Read 1779 times)

legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
Bad news, but at least now I know.
legendary
Activity: 1372
Merit: 1008
1davout
Laws.  More specifically,

Those who claim to be the masters of people in the United States don't think they want their property being able to transfer funds without a record. 

It's kind of weird that they'll still issue EUR codes, because if they did want to comply with European regulations they'd stop those too.
And actually if they really wanted to comply with said regulations they'd stop servicing EUR customers too.
legendary
Activity: 2506
Merit: 1010
Is it official?

That the MTGUSD and MTGCAD redeemable codes will no longer be issued?

Yes.

From another thread:

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
sr. member
Activity: 374
Merit: 250
Tune in to Neocash Radio
Is it official?

What is the main cause?

Laws.  More specifically,

Those who claim to be the masters of people in the United States don't think they want their property being able to transfer funds without a record. 
hero member
Activity: 588
Merit: 500
Will bitinstant be available on coinlab?
member
Activity: 63
Merit: 10
Its too bad really. Mt Gox codes were really useful. You could move fiat in seconds without the expense of wire transfers. Its a shame they are going away.
member
Activity: 84
Merit: 10
Weighted companion cube
You don't have to use coinlab. ;)
sr. member
Activity: 379
Merit: 250
Is it official?

What is the main cause?
legendary
Activity: 2506
Merit: 1010
Perhaps I'm seeing this incorrectly but it seems that will put a damper on the USD price at Gox.

It is probably good for Dwolla.
sr. member
Activity: 476
Merit: 250
nobody in the U.S. or Canada can have wallets with those currencies so effectively no redeemable codes in any currency are available to those in the U.S. or Canada.

Perhaps I'm seeing this incorrectly but it seems that will put a damper on the USD price at Gox.
legendary
Activity: 2506
Merit: 1010
What will happen to MTGOX codes, will it become COINLAB codes ? or mtgox codes = coinlab codes?HuhHuh


Will USA users still be able to move their funds around services that use MTGOX Codes???

No, they will not.

Mt. Gox will no longer be issuing MTGUSD and MTGCAD redeemable codes beginning April 10, 2012.  Other currencies (e.g., MTGEUR, MTGGBP, etc,) will still be issued, though nobody in the U.S. or Canada can have wallets with those currencies so effectively no redeemable codes in any currency are available to those in the U.S. or Canada.
legendary
Activity: 1274
Merit: 1000
What will happen to MTGOX codes, will it become COINLAB codes ? or mtgox codes = coinlab codes?HuhHuh


Will USA users still be able to move their funds around services that use MTGOX Codes???
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