U.S. Rep. Chris Gibson, R-Kinderhook, announced today he introduced a new bill to clarify the laws governing Internet gambling.
From the release:
Recently, the Department of Treasury and the Federal Reserve implemented a new set of rules on Internet gambling which could negatively impact the horseracing industry. While the rules were designed to crack down on illegal Internet gambling, they have unintentionally created confusion regarding the validity of credit card transactions for legitimate Internet-based wagers on horseracing that are sanctioned by the federal Interstate Horseracing Act. As a result, several credit card companies have decided not to process any gaming transactions, even legal Internet gaming transactions on horseracing.
Congressman Gibson?s legislation would clarify the Internet gambling rules to guarantee these new restrictions are not applicable to interstate horseracing. More importantly, this legislation would relieve credit card companies from the constant threat of prosecution, allowing them to process legal online wagering as authorized by the Interstate Horseracing Act.
If this bill sounds familiar, it?s because former Congressman Scott Murphy introduced a similar bill last year that was never acted on. Stephanie Valle, Gibson?s spokeswoman, said it was a good idea then and remains a good idea that should be put into practice.
The bill has been referred to the House Committee on the Judiciary.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.