[hackerspaces] wikileaks - switching from paypal

[Sébastien Spike]

Paypal UK is now closed, as they switched to a single Paypal Europe
entity for all the EU.

[In US]

Regulations are state-level:
https://www.paypal-media.com/state_licenses.cfm

[Paypal Europe]

Their legal mentions -
https://www.paypal.com/uk/cgi-bin/webscr?cmd=p/gen/mentions_eu-outside
- say:

"PayPal Europe is duly licenced as a Luxembourg credit institution in
the sense of Article 2 of the law of 5 April 1993 on the financial
sector as amended (hereinafter the “Law”) and is under the prudential
supervision of the Luxembourg supervisory authority, the Commission de
Surveillance du Secteur Financier, with registered office in L-1150
Luxembourg.

Since the service provided by PayPal Europe is limited to E-money,
which does not qualify as a deposit or an investment service in the
sense of the Law, customers of PayPal Europe are not protected by the
Luxembourg deposit guarantee schemes provided by the Association pour
la Garantie des Dépôts Luxembourg (AGDL)."

On Tue, Dec 14, 2010 at 1:55 AM, Sébastien Spike <spike at wolfplex.home.kg> wrote:
> Hi,
>
> They are regulated for some years. e.g. Paypal UK is a regular bank.
>
> On Mon, Dec 13, 2010 at 8:03 PM, Matt Goodman <meawoppl at gmail.com> wrote:
>> PayPal is scraping for cash, because they know they are going to be
>> regulated soon.
>> --Matthew Goodman

-- 
Spike @ Wolfplex hackerspace
http://wolfplex.hackerspaces.be