Ever since congress passed the Port Security Bill, many concerned online players have been questioning the position of Neteller as a financial operator and the effects the new legislation will have on them. For a long period of time, many were even unsure as to whether or not the bill covered companies like Neteller.
However, within the last couple of days, Neteller have spoken out and announced their plans for the future.
Although Neteller have confirmed that they will be undergoing business as usual, they also clarified that they would indeed abide by the new laws once the 270 day policy-enforcement period was up. As a result, this means that in several months time, Neteller will be denying their American customers from using their service to play poker, a decision that could have a huge impact on the online poker industry.
As a company based outside of America and therefore not confined to following US law, many hoped that Neteller would ignore the new restrictions and continue to provide American players with an easy and safe way to transfer money to the various online sites. However, Neteller have shareholders and business partners to consider, so therefore ultimately decided that it would be best to protect these interests by adhering to the new legislation.
Only time will tell if the new laws will be taken seriously as they will inevitably be very hard to enforce, but, at the moment, companies like Neteller have buckled under the pressure and agreed to abide. Let's see if the online sites that are still accepting American custom will follow suit.