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Still Looking for Legalized Online Casinos

Congressman Barney Frank may have won one of the battles over the past year just recently, but he is quick to note that although the Payment Systems Protection Act (HR 6870) has passed through a vote in the House Financial Services Committee and is on its way toward passage in the House of Representatives, Frank is still looking to repeal the controversial Unlawful Internet Gambling Enforcement Act (UIGEA). The UIGEA specifically blocks gambling at the offshore or domestic online casinos and Frank is fundamentally opposed to the fact that the UIGEA limits the way that Americans are able to spend their free time and to enjoy their gambling activities.

The PSPA was just the first step for Frank toward full legalization and regulation of the online casino gambling ban – this way Congressman Frank has ensured that the banking industry is protected from the negative effects of the UIGEA while it is in effect. The PSPA is specifically targeted at stopping the UIGEA regulations from coming into effect as well as providing clarification for the banking and online casino gambling industries as the what constitutes illegal internet gambling. At this point the UIGEA regulation put the onus of blocking illegal online casino firmly on the shoulders of the financial services sector.

Frank has expressed pleasure that the PSPA passed through the committee but was quick to note that his is still pursing the licensing and regulation of the online casino gambling industry. His efforts with the PSPA were to effect immediate change that would alleviate the impending pressure on the US banking industry where the online gambling industry was concerned.