Congressman Barney Frank Reintroduces the Payments Systems Protection Act HR 6870
Posted Sunday, September 14, 2008 in
Online Poker,
Laws and Regulations
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It seems they have finally agreed that it was unfair to force U.S. financial institutions to implement a law that is unclear and Congressman Barney Frank (D-Mass.) has reintroduced the Payments Systems Protection Act HR 6870 which is scheduled for mark up on Tuesday.
BUT...and it's a BIG BUT...The regulations that will continue to be upheld are those concerning online sports bettors.
So all you sports betters out there in the good ole U.S.A are out of luck for now.
This new bill is "to ensure that implementation of proposed regulations under subchapter IV of chapter 53 of title 31, United States Code, does not cause harm to the payments system, and for other purposes."