|After weeks of speculation, Democratic Congressman Barney Frank has today introduced the Internet Gambling Regulation and Enforcement Act of 2007 that could create an exemption to the UIGEA for properly licensed operators.|
According to an official press release, “The Act establishes a federal regulatory and enforcement framework to license companies to accept bets and wagers online from individuals in the US, to the extent permitted by individual states, Indian tribes and sport leagues. All such licenses would include protections against underage gambling, compulsive gambling, money laundering and fraud.”
Following the introduction of the bill, Mr Frank explained, “The existing legislation is an inappropriate interference on the personal freedom of Americans and this interference should be undone.”
A full and exclusive interview with Barney Frank will be featured in the forthcoming iGaming Business magazine.