Home	Tutorial	Online Casino Reviews	Best Online Casinos	Casino Software	Casino News

Online Casino Gambling --- Casino News

Powerful Support for New Legislation: 2

There is no telling when or if the PSPA will take effect – it now goes to the House of Representatives for debate. The legislative process in the US may be largely effective but that doesn’t mean that it is timely. Because many politicians and members of Congress consider the online casino gambling situation a low priority issue it may not make it up for debate before the House adjourns for the rest of the year. An election year is always a tough year for any sort of controversial issue – and that includes the online casino gambling topic, as well as anything that require lengthy consideration.

The Payment Systems Protection Act (PSPA) has a good chance of passing through the House and Senate in the coming months largely because Congressman Frank drafted the legislation to be as bi-partisan in nature as possible. And although the Act will not resolve the fact that the UIGEA unfairly bans offshore online casinos from the US market, it will stop the UIGEA from potentially further toppling the US banking and financial services industry.

Many in the banking industry balked when the UIGEA draft regulations were released – the Department of Treasury and the Federal Reserve put the onus of implementation of the UIGEA on the shoulders of the banking industry. Essentially though the new legislation makes departments within the US government officially define “illegal internet gambling” before any financial institution can be held liable for processing transactions with foreign online casinos. That being said, both the Republicans and the Democrats are actively looking for ways to take a burden off of the financial services sector and this is a perfect example of a way that both parties can implement positive change related to the online gambling industry – a step in the right direction.