Banks Await Regulations on U.S. Internet Betting Ban
Peter Kaplan writes for Reuters:
The costs of policing a new U.S. Internet gambling ban for banks and credit card companies will be determined by regulators in the coming months, industry officials said on Monday.More here.
Government officials are expected to propose a "coding-and-blocking" system that will identify and stop payment to online gambling sites, experts said. Many banks and credit card companies already voluntarily block Internet gambling transactions using such a system.
The Treasury Department and Federal Reserve Board have nine months to draft regulations after the new law, included in a package of port security measures passed by Congress on Friday and expected to be signed into law by President George W. Bush.
U.S. banks and credit card companies are optimistic that officials will prepare a workable system.
posted by Fergie @ 10/02/2006 03:48:00 PM
1 Comments:
There is hope! It appears that outlawing online gambling violates the US agreements with the WTO. We better get a Democrat in office soon.
You can sign the petition on my site
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