Internet Gambling to be Legalized by Barney Frank's New Bill

Barney Frank today held a press conference explaining his new bill that is meant to repeal the Unlawful Internet Gambling Enforcement Act. His new bill would allow the legalization of Internet gambling by licenced operators providing that institutions are put into place protecting against underage gambling and providing venues to help problem gamblers.

Here is a link to the full bill.

According to a House press release...

In 2006, the House passed the Unlawful Internet Gambling Enforcement Act, restricting the handling of payments by U.S. financial institutions for unlawful forms of Internet gambling. That law prohibits the use of payment instruments by such institutions to handle the processing of any form of Internet gambling that is illegal under U.S. federal or state law.

Traditional forms of legalized gambling already exist in nearly every state. By continuing to prohibit Internet gambling in the U.S., the U.S. has left Americans who choose to gamble online without meaningful consumer protections. The proposed legislation would institute practical and enforceable standards to bring transparency to Internet gambling and provide consumers the protections they expect and deserve.

The Financial Services Committee will hold a hearing entitled, "Can Internet gambling be regulated to protect consumers and the payments system?" at a date to be determined in June, 2007.

April 26, 2007
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!