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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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The European Court of Justice and the European Commission have issued dramatic statements calling for the end of barriers to internet gambling.

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You could blame the World Series of Poker or simply society’s gradual acceptance of gambling as a recreational pastime. Whatever the case, the popularity of Internet gambling has surged.

And that has a Canadian gambling researcher worried that if we’re not careful we’ll trigger an avalanche of online addicts.

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This past Tuesday, September 9, the Dutch Senate passed a proposed bill to tax online games of chance, which online poker is considered, at a rate of 40.85%, which brings them in line with taxes on live casino table games. The taxes will also apply to domestic providers of games of chance provided by ‘illegal’ online operators, as well as for persons who win at foreign online gaming sites.

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WHITE SULPHUR SPRINGS- — During an emergency meeting Thursday morning, the Greenbrier County Commission agreed unanimously to put the issue of table gaming at The Greenbrier Resort up for a county vote.

Unions representing about 1,200 service employees at the resort asked commissioners to take up the issue.

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Former President of the Poker Players Alliance (PPA), a grassroots advocacy group of over 1M members, has recently joined Aristotle International as its Senior Vice President of Business Development for its world class Integrity(TM) product.

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House Committee on Financial Services Chairman Barney Frank (D-Mass.) today introduced the Payments System Protection Act of 2008, which would direct the Department of the Treasury and Federal Reserve System, in consultation with the Attorney General, to create a formal process to define what types of online gambling are unlawful to make it possible for the U.S. financial services industry to comply with the current ban on Internet gambling, as required by the Internet Gambling Enforcement Act of 2006, or UIGEA.

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