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I do know that there was a big market for elvers where the Japanese were paying big money (like hundreds of dollars a pound) for baby eels and there was concern that this could put a huge dent in the population with concerns of poaching and overexploitation. Apparently the bottom fell out of the market as some alternate source was found, and some of the concern diminished.
I'm really not sure where it all stands right now. You might check the web pages for your state fisheries and see if they have any mention of eel regulations.
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