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Technology is a driving force in society, for both businesses and consumers. Indeed, the cyberspace revolution promises gains on the order of those achieved in the earlier industrial revolution. The implications are profound, not just in terms of economics, but in terms of quality of life. The flow if information at the speed of light has empowered individuals across the globe, with the number of worldwide internet users fast approaching 1.5 billion. Unfortunately, these gains can be trampled by government—through censorship, taxation, or regulation.

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WASHINGTON, Sept. 15 /PRNewswire/ — Congress and members of the executive branch will be visited by a team of European Union investigators this week, headed by senior E.U. trade official M. Jean-Francois Brakeland, head of the European Commission’s dispute settlement office. The E.U. delegation is looking into allegations that the U.S. Department of Justice (DOJ) breaches international treaties by continuing to enforce WTO-violating laws against E.U. businesses and individuals who once, but no longer, participated in the U.S. online gaming industry.

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WASHINGTON — A House panel is scheduled to vote Tuesday on a new bill that would require federal agencies to define unlawful Internet gambling so banks and other financial institutions can comply with the ban against online wagers.

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WASHINGTON — A new bill by the chairman of the House Financial Services Committee requires federal agencies to define unlawful Internet gambling so banks and other financial institutions can comply with the ban on online wagering.

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On Thursday, major news rippled across the internet gambling industry. House Financial Services Committee Chairman Barney Frank (D-MA) introduced HR 6870, the Payments System Protection Act. The bill ensures “that implementation of proposed regulations under subchapter IV of chapter 53 of title 31, United States Code, does not cause harm to the payments system, and for other purposes.” The new bill instructs the U.S. Treasury and Federal Reserve to work together with the Attorney General’s office to establish what is acceptable under the provisions of the Unlawful Internet Gambling Enforcement Act (UIGEA). The bill is expected to be marked up on Tuesday and is already on the schedule posted on the House Financial Services Committee website.

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