London - Neteller, a U.K.-based provider of online payment processing services, announced that it will lay off 250 employees in Canada and the U.K., citing the recent U.S. crackdown on Internet gambling sites and related services, Silicon.com reported.

A law passed last year made it a crime for companies to process payments between Americans and gambling sites, which prompted Neteller to discontinue the service for its U.S. customers.

A Neteller spokesperson told Silicon.com that since it stopped the service, its transfer volume and customer enquiries have "decreased substantially," adding, "the company is looking to expand in Europe and in Asia in particular."

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