Standards & Guidance
Challenge to US online gambling laws
Barney Frank,
chairman of the House financial
services committee, has introduced a bill to the US Congress that would
overturn a ban on online gambling linked to the arrest of several UK executives.
In 2006, the US passed a law that effectively prevented US
financial institutions from handling payments in connection with online
gambling. This was in some ways the culmination of a crackdown on the sector
that had already seen the arrest of David Carruthers, former
BETonSPORTS chief executive, in
connection with an alleged racketeering conspiracy.
The bill would establish a federal regulatory and
enforcement framework to licence companies to accept online bets from US
customers.
Frank said: “The existing legislation is an inappropriate
interference on the personal freedom of Americans and this interference should
be undone”.
Links
Barney Frank
House financial services
committee
BETonSPORTS
May 2007
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