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.