Install Steam
login
|
language
简体中文 (Simplified Chinese)
繁體中文 (Traditional Chinese)
日本語 (Japanese)
한국어 (Korean)
ไทย (Thai)
Български (Bulgarian)
Čeština (Czech)
Dansk (Danish)
Deutsch (German)
Español - España (Spanish - Spain)
Español - Latinoamérica (Spanish - Latin America)
Ελληνικά (Greek)
Français (French)
Italiano (Italian)
Bahasa Indonesia (Indonesian)
Magyar (Hungarian)
Nederlands (Dutch)
Norsk (Norwegian)
Polski (Polish)
Português (Portuguese - Portugal)
Português - Brasil (Portuguese - Brazil)
Română (Romanian)
Русский (Russian)
Suomi (Finnish)
Svenska (Swedish)
Türkçe (Turkish)
Tiếng Việt (Vietnamese)
Українська (Ukrainian)
Report a translation problem
This topic has been locked 
Discussions Rules and Guidelines
Report this post
2. That smells a lot like money laundering.
3. Selling steam wallet credit, in any way, is only for authorized partners. You doing such a thing would be a violation of the Steam Subscriber Agreement. Which is punishable by account suspension or termination.
There's no way to get my money ?
Stock markets sell digital digits and allow for a cashout pending a Tax charge. So why cant steam do this for the Millions of Digital Items it allows Users to Trade with on a daily basis?
To allow Cashouts all Steam would have to do is create a system that Verifies Identification of users who use the market.
Much in the same way
Apps like,
Robinhood,
Cobinhood,
Acorns,
and even Crypto Markets like Coinbase do
EDIT: I know anonymity is important in todays age but, what if?
These "Verified" traders, received a badge of some sort on there profile and were givin status of being a "Premium Trader"?
Because steam is not a financial institution and obides by different laws and regulations as a retailer in regards to money laundering which your suggestion would be widely used for.
The same way you can't cash out your store credit at Amazon, Apple, Itunes, Bestbuy, or any other store in the world.
All you can do is buy products with your store credit.
Yes that is true but unlike those other companies you mentioned, Steam is the only one with a Heavy Digital Ecosystem.
I cant, ( buy low and, sell high )on Drake's "Scorpion" Album...
This is only something you can do on Steam.
Ps, I edited my last post.
Asked for Steam to request user Identification for Cashouts?
This would allow for cashouts whilst deterring Fraudulent activities.
Edit:
Also, Ive done this in the past with Gamestop in Store Credit Cards as well.
The only thing is, Ebay takes 20% of your sale.
Because Valve is not a bank and money laundering is something people would abuse this system for.
It wouldn't be abused if the person Cashing out was User Verified.
This means,
Giving a copy of your Driver's license or I.D and you're
SS#.
Next, a Tax would be applied on a Cashout as is done everytime you make any Market Purchase or Sale.
If the IRS detects anything suspicious. They'll know.
A lot of countries will not allow Valve to ask for such info.
And do you think that will stop money launderers?
Last time I checked Amazon, Apple, and Itunes have a heavy digital ecosystem...........
Also steam has no method to identify users, they legally can't ask for that information, can't access government databases to verify ID, and its illegal in many countries to do so.
Also if i steal your account, i can generate a fake drivers license with your name and state on it. Steam would have to get the government to allow them access into their federal database to verify the ID and have an entire team devoted to being able to verify this information. Something that changes country by country.
Also taxing cashouts would be illegal and would not be under the IRS jurisdiction. They could charge a fee for cashouts, but its not a tax.
No that method would be illegal in many countries and they would shut steam down. It wouldn't even be allowed in the US as Steam is NOT a financial institution and can't just go in and verify drivers licenses and SS#'s from secure US databases.
The only entities with that type of power are under federal jurisdiction and oversight and have to abide by a slew of rules and regulations regarding how they do business.
That said, Valve would have a ton of problems with countries in the EU if they start asking for that kind of info.
Your Steam-wallet is not a bankaccount.
1* Steam does not have to act as a Financial Institution to incorporate Cashouts.
2* Hundreds of Crypto and Stock Apps and Websites use Third Party Verification Services who Deal with the Legal Paper work.
Person Data Storage,
Transaction History, ect ect...
The Fee is what Pays these guys that report these Transactions to the IRS.
3. It doesn't have to be a Global thing right off the bat.
There are Crypto websites that are Region locked both for and against the USA.
Kraken for instance is only available to EU Traders do to thier Laws.
That being said, there is already much less red tape involved.
I however, do view these digital Items as securitys due to the fact that the Items have the potential to Grow in Value. Thus "Securing" the Value.
In my personal opinion, I believe the SEC should have sued Steam long ago for this.
Heck, they probably already tried, and the only thing that stopped them was the Trade Ban and lack of having Cashouts in the first place.
But then again, just my opinion.