KOMO News: Government delays new ban on Internet gambling

    • Suoaasi
      Joined: 14.07.2009 Posts: 393

      House Financial Services Committee Chairman Barney Frank, D-Mass., praised Friday's announcement. He is sponsoring legislation that would roll back the 2006 law that bans financial institutions from handling transactions made to and from Internet gambling sites.

      "This will give us a chance to act in an unhurried manner on my legislation to undo this regulatory excess by the Bush administration and to undo this ill-advised law," Frank said in a statement.

      Frank's legislation would allow the Treasury Department to license and regulate online gambling companies that service American customers. Frank argues that online gambling should be legal as a matter of personal liberty and that the federal government could collect increased tax revenues if Internet gambling is regulated.
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