Posts Tagged ‘UIGEA’

US and EU agreement on online gambling, possible Canada and Japan

Posted by Nicolae on December 17th, 2007 under Legislation, Online Gambling, UIGEA
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Unfortunately for the online casinos and poker rooms, the agreement (signed in Geneva) is not to change UIGEA, but to compensate EU for this ban.
United States will compensate European Union especially in the domain of the trade, and mail services. In accordance with Business Week, “This compensation cannot be [...]

UIGEA - End of comments

Posted by Nicolae on December 13th, 2007 under Legislation, UIGEA
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On Regulations.gov, December 12 was the last day allowed for public comments on the Docket ID Treas-DO-2007-0015:

Title   Prohibition on Funding of Unlawful Internet Gambling
Type   Rulemaking
Description   Unlawful Internet Gambling and Enforcement Act requires the Treasury and the Federal Reserve System (the “Agencies”) to proscribe regulations requiring designated payment systems and all [...]

Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA)

Posted by Nicolae on December 12th, 2007 under Legislation, UIGEA
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Unlawful Internet Gambling Enforcement Act of 2006 is part (Title VIII) of the Security and Accountability For Every Port Act of 2006 (or SAFE Port Act, Pub.L. 109-347), an Act of Congress in the United States that covers port security and online gambling. This title (found at 31 U.S.C. § 5361–5367) prohibits the transfer of funds from a financial institution to an Internet gambling site, with the notable exceptions of fantasy sports, online lotteries, and horse/harness racing.

SEC. 802.
PROHIBITION ON ACCEPTANCE OF ANY PAYMENT INSTRUMENT FOR UNLAWFUL INTERNET GAMBLING.
(a) IN GENERAL.—Chapter 53 of title 31, United States Code, is amended by adding at the end the following:
SUBCHAPTER IV
PROHIBITION ON FUNDING OF UNLAWFUL INTERNET GAMBLING
§ 5361. Congressional findings and purpose
(a) FINDINGS.
Congress finds the following:
(1) Internet gambling is primarily funded through personal use of payment system instruments, credit cards, and wire transfers.
(2) The National Gambling Impact Study Commission in 1999 recommended the passage of legislation to prohibit wire transfers to Internet gambling sites or the banks which represent such sites.
(3) Internet gambling is a growing cause of debt collection problems for insured depository institutions and the consumer credit industry.
(4) New mechanisms for enforcing gambling laws on the Internet are necessary because traditional law enforcement mechanisms are often inadequate for enforcing gambling prohibitions or regulations on the Internet, especially where such gambling crosses State or national borders.
(b) RULE OF CONSTRUCTION.
NO provision of this subchapter shall be construed as altering, limiting, or extending any Federal or State law or Tribal-State compact prohibiting, permitting, or regulating gambling within the United States.

Life is gambling, don’t ban the Life!

Posted by Nicolae on December 3rd, 2007 under Legislation, Online Gambling, UIGEA
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All our life and decisions are part, in fact, of the Big Gambling. Let’s take a look to the gambling definition: “wagering money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money or material goods”. And now, let’s think at most [...]