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| | |  September 22 - The Poker Players Alliance has announced that it is pleased with Congressman Barney Frank's success in getting his Payment System Protection Act finally recognized by the House Committe after several attempts.
The act, also known as HR 6870, was co-sponsored with Peter King and calls for the US Federal Reserve System and Department of Treasury to clarify the Unlawful Internet Gambling Enforcement Act. It encourages the appointment of an administrative law judge whose job it will be to define once and for all what constitutes 'illegal gambling' and lead a study that will investigate the costs of compliance of the UIGEA.
Speaking of his satisfaction about the victory this week, Barney Frank said: "At least the banks will know what is and what isn't legal."
"Even those who oppose internet gambling should applaud the passage of this legislation as it provides the more realistic opportunity to block truly unlawful internet gambling transactions," said Alphonse D'Amato, chairman of the Poker Players Association.
The sportsbetting industry was due to take the biggest blow from the implementation of this bill, which calls for the Treasure to block transactions to illegal sports wagering sites. However, all further action regarding the implementation of the UIGEA will be frozen until the administrative law judge has made his or her findings public.
Speaking for the Safe and Secure Internet Gambling Initiative, Jeffrey Sandman said: "We hope this vote indicates a willingness of Congress to develop a more sensible approach towards internet gambling. Rather than prohibit an activity millions of Americans enjoy in the privacy of their own homes, just as they do in a casino, Congress should create a framework to regulate internet gambling as a way to protect consumers and collect billions in much needed federal revenue."
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