November 02, 2009
e-gold Update: Value Access
As e-gold Users are aware, by agreement with relevant authorities including the U.S. Department of Justice, e-gold has suspended all e-metal Spend activity subject to meeting certain licensing requirements. As a result, e-gold Users have been unable to engage in any transactions, including exchanges, that would require either receiving or making an e-metal Spend from the accounts they control.

We are, however, working diligently to develop a means by which account Owners will be able to access the value in their account. Included in this effort have been intensive discussions with various US Federal and State government authorities, including the Florida Office of Financial Regulation, the state where e-gold’s Operator is located. We hope in the very near future to finalize a Value Access Plan that satisfies the requirements of the Office, at which point we will engage with other jurisdictions where e-gold Owners reside. Subject to the prerequisite discussed below, the Value Access Plan will allow account Users on accounts with Owners residing in jurisdictions in which the Plan is not prohibited or otherwise restricted by law to direct the exchange of value in the e-gold accounts they control for US dollars.

The prerequisite to participation in e-gold’s Value Access Plan is full compliance with e-gold’s Customer Identification Program (CIP), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) requirements for the accounts you control. For additional information on this topic, please click here.

Further updates will be announced as they become available via the e-gold blog; therefore, please visit regularly.