The USA Patriot Act , passed in the wake of the September 11 attacks more than five years after e-gold had been launched , made it a federal crime to operate a money transmitter business without a state money transmitter license in any state that required such a license . At the time a money transmitter was in most states defined as a business that cashed checks or accepted cash remittances to send from one person to another person across international borders , such as Western Union or MoneyGram . For example , prior to 2010 , California regulated money transmitters under the " Transmission of Money Abroad Law " . One of e-gold 's competitors , the e-Bullion company , applied for a money transmitter license from the State of California in 2002 , but was informed by the State of California that their business which dealt in gold accounts did not fall under the state 's definition of a money transmitter
September 11 attacks
September 11 attacks
E-gold