Quote:
Originally Posted by Daruma
US Department of Treasury Proposes Reporting of Cross Border Wire Transfers
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There are other aspects to this as well Daruma and they are not limited to the gaming industry, but enter the realms of the adult biz.
FinCEN is fine as in so far as it's objects are a mechanism to curtail financial crimes - every nation has something similar.
The problem arises when the parties managing FinCEN can assume "rights" to bend this whatever way they wish and engage in fishing expeditions, both on US citizens and in their relationships with other nations. (The proposed databases are an example).
In the adult industry for example, - it is not by accident that VISA US implemented a system of recording websites and specifically down to membership detail. This recording by US VISA is not applicable to other nations and in effect, means an investigating authority or prosecutor, not only has complete data on website owners/operators who agreed to signup and pay the $700ish implemented a couple of years ago, but also has records of memberships (names and addresses) - and obviously this includes the related financial data - and where indictments can be issued without a prosecutor rising from his desk.
It would not be a surprise to see extensions of gaming arrests of foreign citizens (webmasters) who happen to be on US soil (along with US citizens) for alleged offenses against US domestic laws relating to the adult industry.
Who knows? Only time will tell, but said a few years back that there is a war going on - and it's not any war on terrorism, drugs or whatever excuse is presented. It's an economic war where there is a desperate need to control. The motivations may be different, depending, but suspect the reasons for embarking on a witchhunt against the global gaming industry is more related to protecting US domestic gaming operations. (It sure has little to do with the welfare of children accessing gaming sites as is claimed)
There is not much chance of the gaming industry shutting up shop because of US domestic laws (and same applies to the adult industry). It is ironic that serveral nations (apart from those in the other frowned-upon offshore area) actually encourage the establishment of gaming operations.
The US is obviously going to lose out in having a share of the global gaming industry. Chances are if there was a change of policy, who would trust a jurisdiction where there is a fickle change of policy - nevermind invest billions.
This saga almost appears as tho the management of the US are living on another planet and with a disabilty leaning towards suicidal tendencies. There are *very* serious economic issues in the US, but, not just with gaming, and parrot fashion pattern of shooting down the prospects of any industry while increasingly living off the national credit card and importing/consuming endlessly from other nations while paying the bill (or extending credit) with weak-valued dollars. Basically unsustainable.
Only my
- this is not going to go away and adopting an ostrich stance is not a remedy. Even with it's own recognized "partners", the US is shutting itself into a closet while stamping it's feet with these partners trying to be relevant and demanding information from banks by issuing subpoenas. Little doubts the financial institutions will act as they see fit - and observe the laws of the countries which are applicable - and ingnore the delinquent kid.
Meanwhile... real life rolls on and the SuperBowl next month will be another good trading day for global gaming
