Casino News: Online casinos continue to survive

Online casinos continue to survive

 February 22, 2010, 9:55 am (7 years ago)
In 2006, the UIGEA had been issued, efficiently disrupting the increasing development of online casinos. Despite the fact that the players would be undamaged by legal consequence, payment processors, both those who can transfer the fund to the casino and the financial institutions holding the funds, are going to have to deal with penalties if they don’t follow the regulation.

The UIGEA was ready to be effective in December of 2009, but legislators including Barney Frank had battled to delay this deadline. The postponement pushed the Act's agreement deadline back by 6 months, leaving no choice for financial intuitions but to stop processing gambling payments by June 1st, 2010, or they had to face penalties. In spite of the postponement, VISA and MasterCard had attempted to stop providing their service for any kind of online gambling related transactions.
AddThis Feed Button Bookmark and Share

  Related News
Apr-14-2007 Malta Agency, Gambling Usage Stats
Apr-08-2007 WTO appeal
Jun-29-2008 Accelerating the Growth of Online Bingo
Oct-17-2009 7Spins Casino wins TST approval for fair gaming
Jul-10-2008 Politics vs. gambling
 Comments (0)    Back to Top
Verification (Enter the text in the image above)
Name
Automatic Translation
Extra extra read all about it, join our newsletter and receive updated online casinos news, useful tips and top bonuses to your email absolutely free!
Email:
Privacy Policy |  Terms of Use |  Gamblers Anonymous
Copyright © 2009 Online Casino Extra