What will a happen to mtgox codes when COINLAB takes the money???

[siulynot]

What will happen to MTGOX codes, will it become COINLAB codes ? or mtgox codes = coinlab codes?


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

[Stephen Gornick]

What will happen to MTGOX codes, will it become COINLAB codes ? or mtgox codes = coinlab codes?


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.

[Severian]

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.

[Stephen Gornick]

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.

[genuise]

Is it official?

What is the main cause?

[poly]

You don't have to use coinlab. ;)

[bitcoins5411]

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.

[zero3112]

Will bitinstant be available on coinlab?

[Rothgar]

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. 

[Stephen Gornick]

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 system@tibanne.com
-------------------------------------------------------------
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

[davout]

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.

[Bit_Happy]

Bad news, but at least now I know.