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E-GOLD USERS:
  • It has come to our attention that it is not legal for citizens of India to use E-Gold.
    Below you will find a quote from the Reserve Bank of India.
    " MUMBAI: Reserve Bank of India today cautioned banks, money changers, financial institutions and the public against the use of "e-gold" as currency in their transactions and said it was violative of current regulations. The RBI clarified in a statement here that "e-gold" was not a currency of any sovereign state and any transaction was violative of current regulations in force in India."Effective immediately we will not pay Members that reside in India with E-Gold. We apologize for any inconvenience that this causes and hope that you understand why we must take this action. If you do not have access to PayPal you will need to redeem for
    advertising. The Office of Foreign Assets Control ("OFAC") of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals. A review of current OFAC sanctions indicates that Payingcents is at risk in dealing with persons in Burma, Cuba, Iraq, and Iran due to restrictions on financial transactions, and, therefore, will
    no longer accept Members from those countries. We are sorry to have to take this action, and for any current Members from the sanctioned countries, we will continue to allow any funds accumulated to be used for advertising until such funds are exhausted, or until 14 days from the date of this announcement. At that time (04/03/06), the current Memberships will be terminated.
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