Barney Frank Introduces Pro-Poker Bill | online gambling

Barney Frank Introduces Pro-Poker Bill
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New bill hopes to overturn UIGEA and provide provisions and safeguards for the industry and the consumer.

Wednesday morning at 10.00 am ET on Capitol Hill, Barney Frank (D-MA), the Financial Services Committee Chairman, revealed the details and the full text of the Internet Gambling Regulation Consumer Protection and Enforcement Act of 2009. In essence, this bill calls for a federal system to “license, regulate, and tax internet gambling operators.” He also introduced a companion bill to delay the UIGEA compliance until December of 2010.

The Internet Gambling Regulation Consumer Protection and Enforcement Act of 2009 has yet to be assigned a Hours of Representatives bill number.

The legislation calls for the Department of the Treasury to have exclusive authority to establish regulations and license internet gambling operators. These operators would be subject to review of their corporate structure and financial history as well as employee background checks. They must also demonstrate a willingness to “comply with US jurisdiction.” In addition, there is a prohibition of any wager made in or on a state or tribal land territory that does not allow internet gambling.

The Department of the Treasury will be charged with the enforcement of the licensing and imposing fines, imprisonment or license revocation for those who do not comply with the bill.

As for consumer protection, there are specific measures incorporated into the bill such as the enforcement of the legal gambling age, confirmation that gamers are conducting their ‘business’ from legal locations and so forth. Provisions to protect user’s privacy and security as well as systems to find and prosecute fraud and money laundering attempts and the prohibition of problem gambling will be added.

In response to the introduction of the two pieces of legislation, Poker Players Alliance Chairman and former Senator Alfonse D’Amato said, “Online poker is a legal, thriving industry and poker players deserve the consumer protections and the freedom to play that are provided for in this legislation. We are grateful for Chairman Frank’s leadership and will be activating our grassroots army made up of over one million members to help him drive legislation.”