EXPOSED? Shutting down the Diablo 3 Auction House

[Xel]

Take a look at this guidance issued 18th March 2013 by the Department of the Treasury of Financial Crimes Enforcement Network:
http://www.fincen.gov/statutes_regs/...-2013-G001.pdf (Notice the .gov sTLD domain)

Notice anything peculiar? Contents of that document could basically be applied to RMAH. The date it was issued is EXACTLY
one year before Diablo 3 Auction House is to be shut down.

Coincidence? I don't think so.

How likely is it that they would abandon such a good instrument for making money just to satisfy the player-base?
I will keep on following the progress of this rumor and update this post whenever something new pops up.

Read more: http://fincen.gov/statutes_regs/guid...2013-G001.html

[Ehnoah]

So Blizzard not want to shutdown the Actuon House? They have to do it xP

[Xel]

So Blizzard not want to shutdown the Actuon House? They have to do it xP

That's what this rumor suggests. We will have to wait for confirmation, however.

[Dante]

imb4 blizzard will now shut down and sue ownedcore

Nice find, may I ask how you stumbled onto this?

[Xel]

imb4 blizzard will now shut down and sue ownedcore

Nice find, may I ask how you stumbled onto this?

A friend of mine found this while doing a research about virtual currency.

[cukiemunster]

Can someone dumb this down for me? I don't get it lol. :banghead:

Sent from my Galaxy S4 using Tapatalk 2

[EliteEloBoost]

yeh i dont agree with blizz

[Madenaras]

Basically it says that trading virtual goods and currency makes you a Money Transmitter Money transmitter - Wikipedia, the free encyclopedia
IMO it is gonna be a pain in the ass for US Blizzard to be a money transmitter. More fees, surety bonds and regulations means give more-take less money.
Also the RMAH makes a perfect place for money laundering, so maybe the trouble that RMAH gives Blizz is not worth the money they take.

[Anihilis]

this is the most pertinent paragraph IMO

"The definition of a money transmitter does not differentiate between real currencies and convertible virtual currencies. Accepting and transmitting anything of value that substitutes for currency makes a person a money transmitter under the regulations implementing the BSA.12 FinCEN has reviewed different activities involving virtual currency and has made determinations regarding the appropriate regulatory treatment of administrators and exchangers under three scenarios: brokers and dealers of e-currencies and e-precious metals; centralized convertible virtual currencies; and de-centralized convertible virtual currencies."

So does that mean if Blizzard wanted to keep the RMAH open they would have regulatory agencies all up in their butt?

[King Protos]

To me it seems like this is more directed at BitCoins and such. Things like Microsoft Points would also have to be shut down due to this, right?

[Rawrypop]

To me it seems like this is more directed at BitCoins and such. Things like Microsoft Points would also have to be shut down due to this, right?

Microsoft Points have already been removed. They switched to using real dollar values almost a year ago.