US propose internet gambling ban rules

Almost a year after the Unlawful Internet Gambling Enforcement Act (UIGEA) was passed by Congress, the US Treasury and Federal Reserve are moving towards a total ban on gambling online.

Under the new proposed rules, banks, credit card firms and operators of online payment processor companies will need to have procedures and policies in place that will block transactions from gambling websites.

Since the UIGEA was passed, many banks, credit cards and online payment processors have flouted the legislation, but these newly proposed rules are to clear up any ambiguity which may have remained over gambling online in the US.

The US Treasury and Federal Reserve will now begin a 3 month consultation process, inviting comments from affected parties.

Read the proposed rule here.

Editor, - 2007-10-02 11:30:02

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