Russian most popular social network Vkontakte decided to close its payment system, as it doesn't fit the legal requirements of the national payment system, approved by Russian President at the end of June, 2011.

      According to the new requirements of the new law, non-credid institutions can't use e-money. Vkontakte decided, that to create a new credit institution in order to preserve the payment system is impractical.

      The closure of the system will affect only those users who have accumulated e-money to buy presents and goods. It will be able to spend the money within three month.

lenta.ru