How legal are virtual banks and stock exchanges?

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Geee People

Ban the Banks .. The Most Recent idea of Linden Labs.

OK ... when a bank or a so called one offers you more interst than any other inworld bank .... Does that not make a bell ring in your head ... or are all those than so greedy ???? That they even can think straight anymore ...

Am at a bank in SL with a .10% interest on cash ... compounded daily ... I use(d) that bank as safekeep against all the malware who tries to ripp you off inworld .... (NOTHING is doneagainst that by LINDEN Labs) ..

In last resort i ll have to create an Alt as Piggy bank ... and let that alt than only inworld when i need some money ....

He AMERICANS ... Wake up please ... There are other nationalities too in second Life ... and in Europe .. a Credit Card isn t a candybar like on your side of the world ... and the operating costs are rather steep too ... so a bank like the dutch bank was a gift for the OH so much hated Europeans ... I buy my Lindens too ....

Thinking of buying Lindens couldn t it be possible that Linden Labs is missing a part of the money-cake right now ... no profits of the trade? Is just an idea ...

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Well, banking is a regulated industry in almost every jurisdiction in the world (not every last one of them, but nearly every one). The regulations were enacted to regulate and control banks, and those who *appeared* to be banks or who provided similar services in order to limit fraud or incompetence.

Those regulations, of course, apply absolutely to a bank operator, regardless of whether their bank is in a bricks-and-mortar building, online, on a website or wherever.

You can pretend that they don't apply to you. You can claim that they don't apply to you. But that doesn't make it true.

In that almost none (perhaps none of them at all) of the SL banks appear to be in compliance with their local regulations - it makes me wonder why you'd trust your money with someone who isn't obeying the law.

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