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VIRTUALISATION Congressman proposes looser online gambling restrictions
VIRTUALISATION Congressman proposes looser online gambling restrictions | Congressman proposes looser online gambling restrictions |
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| by Jake Widman | |
| Wednesday, 06 May 2009 | |
  
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It prohibited the transfer of funds from a U.S. financial institution to an Internet gambling site, with some exceptions (e.g. for fantasy sports and horse racing sites). That provision would prevent Americans from using their credit cards or bank accounts to gamble online. Even though the regulations did not go into effect until January 2009, overseas gambling sites stopped accepting U.S. customers. They also drew international criticism, as the European Commission investigated whether the rules discriminated against EU firms, and Antigua challenge the rule as an unfair trade restriction before the World Trade Organization. The bill introduced by Congressman Frank (D-Mass.) will exempt licensed, regulated operators. Frank said it "will enable Americans to bet online and put an end to an inappropriate interference with their personal freedom." |
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