Online gambling legalization takes a big step | IXGAMES
Rep. Barney Frank, D-Mass. -Â has called the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 -*one of the stupidest things*- he has ever seen. On Tuesday -Â Frank will get a chance to further push that message in Washington when a Congressional hearing will be heard at 10 a.m. ET by the Subcommittee on Domestic and International Monetary Policy, Trade and Technology. Barney -Â the Chairman of the House Committee on Financial Services, wants to legalize online gambling in the U.S. and has proposed the Internet Gambling Regulation and Enforcement Act (IGREA) to help make that happen. (Frank wants online gaming regulated by the Department of Treasury. Currently under the UIGEA, banks and financial institutions carry that burden when it comes to stopping Americans from gambling online illegally). The UIGEA bans the use of credit card and other monetary transactions that bettors use to fund online casino, online sportsbook and poker accounts. That leaves the banks to block and monitor those transactions and one of the criticisms of the bill is that it interferes with normal banking business. 
For more information on the Safe and Secure Internet Gambling Initiative, which promotes the freedom of individuals to gamble online with the proper safeguards to protect consumers and ensure the integrity of financial transactions -Â please visit www.safeandsecureig.org
-ixgames.com wish the best of luck to barney and co-