US judge rejects e-gold’s argument that it is not a money transmitter

A U. S. federal judge has ruled that Nevis-domiciled alternative currency provider e-gold Ltd. is a money transmitter, as defined by U. S. law, and, therefore, must stand trial on counts that it operated on an unlicensed basis in the country.In a ruling at the U. S. District Court for the District of Columbia on May 8, 2008, U. S. District Judge Rosemary M. Collyer denied a motion by e-gold and four co-defendants to dismiss all three unlicensed money transmitting-counts of a four-count criminal indictment brought against them on April 24, 2007.