Poker Players Alliance

excerpt:

There may be a time when the online poker industry is completely legal and regulated by the U.S. government, but dont expect it to happen anytime soon.

Last week the House Financial Services Committee defeated a bill submitted by congressmen Barney Frank, D-Mass., and Ron Paul, R-Texas, that would have helped put online poker on the fast track for legalization.

Titled the “King Amendment,” the bill was meant to free financial institutions from the burden of screening transactions that may or may not violate the controversial laws put into place by the 2006 Unlawful Internet Gambling Enforcement Act UIGEA.

It also would have opened the door for debate on the legality of online poker by forcing lawmakers to compile a complete list of gambling-related operations that violate the UIGEA. Theres no current law that states online poker is illegal, but banks have been operating under the assumption that it is. Online poker is completely legal in Canada.

Click here to read more:
MySA.com: KENS 5: Sports

Author Contact Info: Chuck Blount

Tags: HR5767

This entry was posted on Thursday, July 3rd, 2008 at 5:44 am and is filed under Federal, Headlines. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.