skinski
18-09-2008, 02:59 PM
The House Financial Services Committee passed the Payment Systems Protection Act by a 30-19 vote Tuesday. I know this is just the first step in a long process, but it's still some good news for the online gambler from the U.S..
This new bill, which is co-sponsored by Committee Chairman Barney Frank (D-Mass.) and Rep Peter King (R-NY), calls on the Federal Reserve and the Treasury Department to immediately begin drafting and implementing regulations that prevent sports betting transactions from being processed. "Under this bill, at least the banks will know what is and isn't illegal," Frank said at the markup hearing. "We're asking the Treasury Department to give them a list."
The Poker Players Alliance has come out and stated their support of the bill. "The PPA is pleased that the House Financial Services Committee today recognized the need to provide necessary clarification to what constitutes 'unlawful Internet gambling' under the Unlawful Internet Gambling Enforcement Act (UIGEA) by passing H.R. 6870," said PPA chairman and former Senator Alfonse D'Amato.
Source - Daily News-RGT Online (http://www.rgtonline.com/Article.cfm?ArticleId=81658&CategoryName=Headline&SubCategoryName=News)
This new bill, which is co-sponsored by Committee Chairman Barney Frank (D-Mass.) and Rep Peter King (R-NY), calls on the Federal Reserve and the Treasury Department to immediately begin drafting and implementing regulations that prevent sports betting transactions from being processed. "Under this bill, at least the banks will know what is and isn't illegal," Frank said at the markup hearing. "We're asking the Treasury Department to give them a list."
The Poker Players Alliance has come out and stated their support of the bill. "The PPA is pleased that the House Financial Services Committee today recognized the need to provide necessary clarification to what constitutes 'unlawful Internet gambling' under the Unlawful Internet Gambling Enforcement Act (UIGEA) by passing H.R. 6870," said PPA chairman and former Senator Alfonse D'Amato.
Source - Daily News-RGT Online (http://www.rgtonline.com/Article.cfm?ArticleId=81658&CategoryName=Headline&SubCategoryName=News)