| Posted by: Rabidus at April 30, 2007, 7:06 pm | | Topic: Frank Bill Forum: Card Chat |
Here's one from the National Post - April 27
Legislation that would lift an online gambling ban imposed by U.S. Congress last year was introduced yesterday by the chairman of U.S. House Financial Services Committee.
Calling the Internet gambling prohibition "imprudently adopted," Democratic Representative Barney Frank of Massachusetts outlined a bill to make it legal again for banks and credit card companies to make payments to online gambling sites.
"The fundamental issue here is a matter of individual freedom," Mr. Frank told a news conference, adding his committee would hold a hearing on the matter in June.
The bill includes provisions for licensing and regulating online gambling companies to protect against underage gambling, compulsive gambling, money-laundering and fraud.
But Mr. Frank conceded, "The otes aren't there to change it right away" and he listed only 11 co-sponsors in the 435-member House for lifting the ban.
Mr. Frank said his proposal could face opposition from religious conservatives, and from some liberals who find gambling "tacky." However, he also said the ban imposed by Congress had awakened many oters to the issue and predicted support for the bill could grow.
"There's a group of [voters] who've been activated here," Mr. Frank said.
The Internet gambling payments legislation was signed into law last October by George W. Bush. It had won support from majorities of both Republicans and Democrats.
The ban has been closely monitored by investors in some British- based gaming companies, such as Partygaming PLC and 888 Holdings PLC. In a crackdown on Internet gambling, U.S. prosecutors arrested BETon- SPORTS' then-CEO in July and its founder last month. Two founders of payments processor NETeller were arrested in January.
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