Monday, November 24, 2008

Regulation of the internet

It appears that the US Treasury finally realized that trying to control the internet with silly banking regulation is just more than their little pea-brains can deal with.
After receiving a flood of objections from financial institutions, the Treasury Department will not require them to figure out the difference between legal and illegal online gambling, a distinction Congress deliberately left vague and regulators refuse to clarify. The Bush administration's final regulations under the UIGEA, issued last week, require American credit card companies to invent new codes for certain transactions and require financial institutions to ask their clients to avoid illegal gambling.



Blogger Radio Babylon said...

im not an obama fan (at all) but, i do think his administration is the best hope so far for some kind of legalized, regulated online poker in america. (ignoring for now the debate of whether or not online poker was illegal to begin with.)

obama has promised the world, and to even begin to deliver on the smallest part of it is going to require shaking every damn money-tree he can get his hands on. and regulated, taxed online gambling is probably going to be too big a money-tree for him to ignore.

10:33 AM  

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