First, this is a bunch of garbage. It looks like it has really be trimmed down in order to have agreement to attach it to the port security bill. By the way, I hate bs attached bills in general...
We can pick this thing apart line by line all day long but I stepped back and took a "big Picture" view of it. Below is what I thought...
1. No existing laws were changed concerning gambling in the united states.They specifically noted that no laws existing laws were changed. They did however, mention that it is illegal to initiate a bet that extends past state lines. They also mentioned that the intermediate re-routing of data doesn;t change where it was initiated. I think that verbage would hurt us if we each had federal agents standing over our shoulders while we are at the computer.
2. While most of the bill pertained to financial transactions, it seemed like the theme was credit card and bank wire transactions. They did put some vague catch-all phrases in there, but assuming they cannot enforce every word in the bill, I believe they will stick to bank wires and credit cards.
3. They mentioned that cooperation from foreign countries are invited. This was mentioned referring to the goverments of these countries try to closely manage the funancial operations of the casinos to ensure that none of the operations are contributing to laundering, crime, terror, etc. Personally, I think this is a positive as far as we are concerned. I think we all would agree. That was the only significant suggestion for foreign countries.
4. By reading through that verbage, I couldn't determine exactly where Neteller fit into the bill. There was mention for financial institutions to block transactions to/fro casinos or their banks. Maybe someone else can elaborate on what they gathered concerning this.
Basically, (this may be optimism) It seemed to me that they put heavy emphasis on several items that would effect us. As I mentioned before, these are credit card transactions, current laws being uneffected, monitoring of casino financial operations. All we can do is hope that these will be the items they act on.
I am sure they will bust a few small tiem joe schmoes to make an initial point, however; I do not believe they have near the capacity to regulate it to a point that we will be affected much. For crying out loud, they cannot even mine enough data from ISP's to catch pedofiles downloading porn on the internet. I could personally trade phony porn files using p2p programs and catch thousands of people downloading it with an IP recorder. Our goverment cannot even perform this simple task, how in the world are they going to regulate every honest legitimate hardworking recreational internet gambler.
Please, if any of you have a different opinion, either on the interpretation fo the bill, or our governments ability to regulate it, I would love to hear them.
Peace,
rmdanie
We can pick this thing apart line by line all day long but I stepped back and took a "big Picture" view of it. Below is what I thought...
1. No existing laws were changed concerning gambling in the united states.They specifically noted that no laws existing laws were changed. They did however, mention that it is illegal to initiate a bet that extends past state lines. They also mentioned that the intermediate re-routing of data doesn;t change where it was initiated. I think that verbage would hurt us if we each had federal agents standing over our shoulders while we are at the computer.
2. While most of the bill pertained to financial transactions, it seemed like the theme was credit card and bank wire transactions. They did put some vague catch-all phrases in there, but assuming they cannot enforce every word in the bill, I believe they will stick to bank wires and credit cards.
3. They mentioned that cooperation from foreign countries are invited. This was mentioned referring to the goverments of these countries try to closely manage the funancial operations of the casinos to ensure that none of the operations are contributing to laundering, crime, terror, etc. Personally, I think this is a positive as far as we are concerned. I think we all would agree. That was the only significant suggestion for foreign countries.
4. By reading through that verbage, I couldn't determine exactly where Neteller fit into the bill. There was mention for financial institutions to block transactions to/fro casinos or their banks. Maybe someone else can elaborate on what they gathered concerning this.
Basically, (this may be optimism) It seemed to me that they put heavy emphasis on several items that would effect us. As I mentioned before, these are credit card transactions, current laws being uneffected, monitoring of casino financial operations. All we can do is hope that these will be the items they act on.
I am sure they will bust a few small tiem joe schmoes to make an initial point, however; I do not believe they have near the capacity to regulate it to a point that we will be affected much. For crying out loud, they cannot even mine enough data from ISP's to catch pedofiles downloading porn on the internet. I could personally trade phony porn files using p2p programs and catch thousands of people downloading it with an IP recorder. Our goverment cannot even perform this simple task, how in the world are they going to regulate every honest legitimate hardworking recreational internet gambler.
Please, if any of you have a different opinion, either on the interpretation fo the bill, or our governments ability to regulate it, I would love to hear them.
Peace,
rmdanie
