The bill is the latest step in a new push led by Congressman Barney Frank to overturn the UIGEA.
US Senator Robert Menendez (D - NJ) has submitted a new online poker companion bill that will try to establish a framework for online poker and similar forms of Internet gaming.
The bill, called Internet Poker and Games of Skill Regulation, Protection and Enforcement Act, is the latest effort in a pro-poker campaign by legislators led by Massachusetts Congressman Barney Frank.
Under the proposed bill, online poker and gambling companies would be required to undergo a review process conducted by the Treasury, which would examine their business records and other vital details.
Gambling License Requirements
Any people or companies with a record of previous indictments for gambling or financial related violations will automatically lose out on obtaining a license.
The bill also introduces security features that gambling Websites must incorporate, including a requirement to enforce age limits and residence verification, and to implement online payment fraud protection and money-laundering prevention.
Safety First
"The safety benefits of the bill are particularly crucial," Menendez said. "Parents are worried about their children falling prey to illegitimate gaming sites and thousands of Americans have been fleeced of millions of dollars by these sites. With proper regulation, we can prevent minors from playing poker online, crack down on predatory operations, and sanction the legitimate ones."
The Fight Continues
Menendez's proposal follows the introduction by Frank of two other bills as part of a new push to overturn the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA), which effectively banned Internet gambling by outlawing the transfer of funds from financial institutions to gambling websites.
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