Re: PPA has released its UIGEA regulations comment talking points
[ QUOTE ]
Right now, banks will have the burden of proof that transactions they permit are lawful.
[/ QUOTE ]
This is where you are wrong.
Read the proposed regulation again.
Even the Agencies there tell the banks they can either block for business risk reasons or use the OFAC list.
The banks have had these methods in hand for years.
One of my banks Chevy Chase Bank has had these policies in place since May of 2005.
All the UIGEA did was give the Banks the ability to use a new cover and a liability free pass to block. IMO this is a high stakes game between international bankers and whole countries. We are really just railbirds.
Congress isn't really ready for debating on-line poker and gaming until '09. The UIGEA and the proposed rule are just stop gaps until then.
D$D
|