e-gold payment system gets a new life. But what life is it for old e-currency?

Internet community is again murmuring and rumoring around the situation with the now-shut-down e-currency provider e-gold. From the online forums, talkgold.com, in particular, as well as from e-gold's blog itself we have learned that the payment system posted a new message where it instructed its users to provide additional information in compliance with US legal requirements and e-gold's "Customer Identification Program" (CIP).

The post reads as follows:

e-gold requires all Users to provide  information about the Owner of the e-gold accounts in User's control.  ALL USERS ARE REQUIRED TO TAKE ACTION AT THIS TIME.

Completion of User CIP is a prerequisite to completing Owner CIP.  It is imperative for any

The payment processor explains this move as "only one part of e-gold's broader "Customer Due Diligence" (CDD) process." E-gold says:

In compliance with US requirements, e-gold requires additional information about e-gold account Owners and the intended usage of their e-gold account(s) to prevent e-gold accounts from being used for money laundering, terrorist financing or other financial crimes.  ALL USERS ARE REQUIRED TO TAKE ACTION AT THIS TIME TO PROVIDE REQUIRED INFORMATION.

But that was not all. E-gold advised its users that it may require more information from accountholders and in case they fail to provide it corresponding penalties and actions will follow:

As part of its "Enhanced Due Diligence" (EDD) efforts, e-gold may request other information for accounts with Owners or activity meeting certain criteria.  For example, money transmitting businesses will be subject to EDD.

PLEASE NOTE THAT IF CIP, CDD OR EDD INFORMATION IS REQUESTED, IT MUST BE PROVIDED BEFORE ANY INITIAL OR FURTHER TRANSACTIONAL ACTIVITY MAY BE PERMITTED.  FAILURE TO PROVIDE ANY OF THE CIP, CDD, OR EDD INFORMATION WHEN REQUESTED COULD RESULT IN YOUR ACCOUNT BEING TREATED AS ABANDONED PROPERTY AND ESCHEATED TO GOVERNMENTAL AUTHORITIES OR FORFEITED TO THE US GOVERNMENT.

Every internet user who managed to visit the blog of e-gold can see that the post suggests the payment system has plans to recover from a long period of shut down and step back to the scene again. But could it really happen? Can e-gold really return to the market and function in a normal stable mode? What can its numerous customers expect and hope for? And is there any hope that users will see their money back that were suspended in their e-gold accounts?

Anyway, there is no signs of e-gold's activity yet as no one can create new account with the payment system. See our screenshot here:

Most of e-gold users do not believe all this could ever happen. Talking on the online forums they say that even if it does by the time they manage to collect and submit all the necessary information their accounts will be eaten up by the agio fee set up by e-gold for Accounts Not Compliant with CDD Related Data Collection Requirements. Other users just don't see any sense in trying to become more transparent to the managers of the payment system.

Actually, it is hard to say something in advance or to make any predictions. The payment system left the scene with much noise and scandal therefore it is hard to imagine that it will be ever able to restore its lost name and reputation. The lot of the money left in many accounts remains unknown and if e-gold wants to start from the zero how will it find money to make payouts to its customers? Or taking advantage of users' failure to submit proper documentation and information on time e-gold plans to canonize its right to seize users' money and then again appear on the scene under guise of another payment structure explaining the failure of the previous payment system as users' reluctance to cooperate with them? Then they will come and say: "XXXXX payment system was founded by the owners of the prominent e-currency provider e-gold. As users' failed to comply with legal regulation we seized their funds and on this basis we decided to create a new financial instrument that would be much more successful in further fraudulent financial gerrymander".

Of course it sounds just as a sarcastic hyperbole but still there is no argument that could speak to credit of e-gold owners and explain why users of this infamous e-currency provider should obey and follow its instructions. It cannot explain why after all should anyone believe e-gold. Let the time show what this move means and where it will come.