U.S. Regulation Back On The Table
May 26, 2011
Representatives John Campbell (R-CA) and Barney Frank (D-MA) introduced the Internet Gambling Regulation, Consumer Protection and Enforcement Act to congress this week in another attempt to establish federal licensing and regulation of Internet gaming and online poker.
The bill is similar to H.R. 2267, which passed through the Frank led House Financial Services Committee in July 2010.
Key provisions of the bill include vetting of potential licensees and creation of a list of illegal operators; Mandatory implementation of technologies to protect against underage gambling; Requirements for operators to set daily, weekly or monthly limits on deposits and losses; High standards to prevent fraud, abuse and cheating; Regulation to prevent money laundering; And, processes to prevent tax avoidance.
“The time is now for Congress to step up and pass federal legislation, like the Internet Gambling Regulation, Consumer Protection and Enforcement Act,that allows the entire country to benefit,” Poker Players Alliance Chairman and former Senator Alfonse D’Amato said in support of the bill.
Article Source: Pokerlistings.com
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