Quote:
Originally Posted by jetset
FRANK LAUNCHES NEW ATTACK ON ANTI-ONLINE GAMBLING REGS
New bill seeks to stop implementation of unworkable UIGEA regs in its tracks
Following the recent Congressional hearings in Washington on the Unlawful Internet Gambling Enforcement Act, few can doubt that government agencies and the financial services industry required to police it have a monumental task in thinking up practical ways to implement a flawed law passed by Congress in 2006.
This week that task may have been made tougher by new legislation - H.R.5767 - introduced by influential Financial Services Committee chairman Barney Frank and presidential aspirant Ron Paul.
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That is certainly good news.
But even if the proposed Regs survive, does this pretty well mean that routes to play can be opened. I could see a foreign bank and then a Neteller type account through the foreign bank. All transactions to the US would be bank to bank. All transactions to the Web Wallet would be via the foreign bank account. Under the proposed Regs, I don't see a problem with that arrangement. The only problem I see is we need a replacement for Neteller like we had a replacement for Paypal.
Will it be time to come back soon? Any thoughts from anyone?
Stanford.