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LII / Legal Data Institute

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It also authorizes the Federal Reserve System to create rules that prohibit monetary transaction providers (banks, credit card corporations, and many others.) from accepting those funds. See 31 U.S.C. § 5363(four). This Act, along with threats of prosecution under the Wire Act from the Department of Justice, has brought on several Internet gambling companies to withdraw from the U.S. In response, Home Representatives launched a number of bills in 2007 to soften federal Internet playing law. If passed, the Web Playing Regulation and Enforcement Act and the Internet Playing Regulation and Tax Enforcement Act would license, regulate, and tax Internet playing companies reasonably than prohibit them from taking bets from the United States. Alternatively, the Talent Game Safety Act would clarify the Wire Act to exempt certain games resembling poker and chess.


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