GoldMoney

P. Carl Mullan
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P. Carl Mullan: Digital Currency Intelligence Authority Ltd.

Chapter Chapter 9 in A History of Digital Currency in the United States, 2016, pp 229-243 from Palgrave Macmillan

Abstract: Abstract Former bankers and financial executives created GoldMoney digital gold currency. These principals recognized the need for regulatory structure and supervision. GoldMoney operated using strict Know Your Customer (KYC) rules and Anti-Money Laundering (AML) regulations. Customer identification was paramount for any new account. Because of this guarded operation, GoldMoney was not exploited by bad actors. The company never had any problems with HYIP Ponzi schemes or Internet criminal activity. During the first decade of digital currency growth, GoldMoney was the exception to the rule. Requiring customer identification was the primary difference that allowed GoldMoney to continue operating without any legal issues. While new 2011 FinCEN regulations caused the company to drop the payments side of business, GoldMoney is still in operation in 2016.

Keywords: GoldMoney; Digital gold currency; GoldGrams; James Turk; Geoff Turk; Cambios (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:paiecp:978-1-137-56870-0_9

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DOI: 10.1057/978-1-137-56870-0_9

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