It seems that Perfect Money (PM) is getting a bit worried as a result of the sudden interest in its e-currency/money transfer services.
The fall of Liberty Reserve played quite a role in this of course, and that’s precisely why PM takes step after step to protect the Company from the clouded future that threatens all non-regulated money transfer endeavors.
Immediately after the Liberty Reserve owner got arrested in Spain, Perfect Money, which defines itself as “The absolute perfection that crowns the world e-commerce”, decided to stop accepting US customers as we reported (http://paymentmagnates.com/view-news/is-the-payment-industry-getting-sanitized-/4).
Now, PM just took another step to avoid trouble with the US authorities by moving to another TLD: In order to reach the processing company website, you will soon need to point your browser toward Iceland to Perfectmoney.IS instead of 5the good old Perfectmoney.com
The FX Global Code – Is Self-Regulation the Future of the Industry?Go to article >>
Although the rationale behind the decision for a Panamanian Company to choose Iceland as the new home for its domain name remains unclear and somewhat funny, as it definitely shows that Perfect Money is making considerable attempts to avoid any exposure to the US market therefore ensuring that the company is does not demonstrate any presence whatsoever in the United States.
Perfect Money describes this as a move to “improve the brand recognition of [its] payment processing system”, but the fact that the company takes this opportunity to further describe how committed they are to prevent money laundering does give a hint…
This industry urges for a regulatory structure and as much as solutions such as Bitcoin can seem useful and are gaining popularity, the inclusion of monitoring the behavior of such organizations in the remit of regulatory authorities’ responsibility seems to be the only way to ensure sustainability
You can reach the News here: http://bit.ly/12IzCzs