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January 9, 2008
Posted: 12:43 PM ET
Linden Lab announced today that as of Jan. 22, non-RL-registered banks involving real-time transfers of L$ and promises of interest payments will no longer be allowed to operate in SL and their terminals will be removed. LukeConnell Vandeverre, owner of the World Stock Exchange and CEO of Hope Capital Ltd, shown here with associates on the Exchange floor, closed the WSE 2 days ago, promising “software upgrades”. Today, he removed pledges of 25 percent interest from the visitor greeter, and said he was still mulling over the effects of the new policy. Lines formed at SLIB, and other banks around SL tonight as distraught avatars tried to withdraw their savings, with mixed success. Midas Bank had earlier closed, claiming seizure of their assets by Hope Capital. While banks are being prohibited, it is not clear how stock exchanges will be affected, but they are very much intertwined with banking in SL. The Rock, an insurance company that backs deposits, had messages at its terminal that insurance was “sold out”. Robin Linden, VP of Marketing and Community for LL, said at her office hour today that no banks or businesses got any early warnings of the policy, and its first announcement was today via the official blog. Filed under: ireport
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