Treasury asks for advice on eMoney

The UK Treasury is consulting on the whos and hows of electronic money, and opening the door for network operators who'd prefer to think of themselves as banks. The consultation asks how the Treasury should regulate companies who issue electronic representations of cash, and what guarantees such companies should be required to …

[Anonymous Coward]

€250?

Due dilligence should come in at somewhere over £50 (so somewhere around that value in Euros) The reason that we don't have anything larger than £50 in the UK is because of money laundering being a lot easier with larger physical currency. The €500 note was just removed from circulation because it had become the criminal's choice of bank note. I have no doubt that the €200 will probably go in the not too distant future for the same reason.

[Vitani]

Have I read it right?

Does this mean once I top-up my mobile, I could claim the money back at a later date? That would be handy as I have about £30 on my phone atm due to regular monthly top-ups to get "free" Internet access and texts.

[Alan Firminger]

Why maked it simple when by taking a little trouble you can choose ambiguity ?

EMI !

[zaralockwood]

heh

bring back e-gold

[Eric Hood]

private money

Companies minting their own money is nothing new in England.

Check out a book called Good Money by George Selgin