US Ignores Please, Pushes On
10/04/2007
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Several months later than the original Act dictates, the US has taken additional steps this week in enforcing the ban on online gambling sites. the moves, by the US Treasury and Federal Reserve, have missed the deadline that called for regulations to be presented within 270 days from the day the Act was passed, but are as effective in implementing the official policy nevertheless.

The Unlawful Internet Gambling Enforcement Act of October 2006 is now supplemented by clear legislation that forbid anyone, including banks and credit card companies, to accept or serve any payments involving the illegal websites.

The rules published earlier this week call on all financial institutions to invent "policies and procedures that are reasonably designed to prevent payments being made to gambling businesses." That will cover the bases most likely and put an end to any such activities that may still be taking place in the US.

We can now count three months, a period defined for a consultation process, with addresses announced to send comments by parties that are affected by the rules. This deadline is December 12, 2007.

Then, after comments are taken and considered, a period of another 180 days, the rules will be clear and comprehensive. No more turning a blind eye to online gambling by the payment process companies. As this period can take another year from now, it will also correlate with major political developments in the US. Optimism, while on the reader's risk alone, is nevertheless invited.


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