UIGEA Regulations released today

[NASHVEGAS]

Originally Posted by SlotsWizard

It will be too difficult to maintain a list of gambling payment processing companies.

That is a perfect example of why I said "screw it,too damn contradictory........"

[Mousey]

Yo! Simmo! can we get this thread moved to Casino Industry section maybe?

From CNet:

Net gambling regulations exempt some transfers

By Reuters
http://www.news.com/Net-gambling-reg...3-6211061.html

Story last modified Mon Oct 01 16:20:49 PDT 2007


Internet gambling regulations proposed by U.S. officials on Monday stopped short of requiring U.S. banks to block checks their customers make to online casinos while forcing banks to halt debit and credit payments.
The Treasury Department and the Federal Reserve issued a plan requiring bank policies and procedures that are "reasonably designed to prevent payments being made to gambling businesses in connection with unlawful Internet gambling," they said in a statement.

The new U.S. regulations would make the banks responsible for blocking credit and debit card payments for online gambling. It also bars bank customers such as online casinos from receiving Internet gambling proceeds.

"I think that that's doable," an industry source said of the proposal.

But industry officials said it seemed that regulators had addressed their biggest concern about the new law. The agencies concluded it was "not reasonably practical" for the banks to identify and block customers from sending checks and making some other types of transfers.

The new regulations are designed to put into effect a law passed by Congress last year ....