E-cash processor Neteller hastened to reassure its customers last night following news that the U.S. government is soon to issue new regulations seeking to prevent financial institutions from processing transactions to online gambling sites. The firm, based in the Isle of Man, pointed out to customers in a general statement that nine months has been allocated before new regulations are expected to come from U.S. law enforcement agencies.
"NETELLER continues to operate its business as normal,” the statement read. “Over 3 million customers in 160 countries trust NETELLER to transfer over $7 billion each year. The company is authorised in the UK by the Financial Services Authority and listed on the AIM market of the London Stock Exchange. To protect its customers’ money, all deposited, in-transit, and un-cleared funds are held in Trust Accounts.”

Several financial analysts have commented that the new regulations are designed to identify the nature of each transaction, and where possible will seek to block those designated for online gambling companies. Neteller’s statement continues: “It is currently unclear how NETELLER, a European company, with no assets, presence or employees in the US, would be affected by this bill. Once the regulations have been written, NETELLER will have a clearer view of which companies are affected, how those companies will be expected to comply, and any possible resulting impact on NETELLER and its US facing business.”

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