iMEGA responds to proposed UIGEA regulations
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The Interactive Media Entertainment & Gaming Association has responded to yesterday’s release of the Unlawful Internet Gambling Enforcement Act proposed regulations. iMEGA says that the burden unfairly falls on financial institutions, which it calls the “victims” of the “ill-defined regulations.”
The regulations, while they are supposed to provide for a system which identifies legal transactions between persons who are allowed to enjoy Interactive gaming, instead virtually condemn the system to complete elimination because of the payment system providers’ risk of criminal penalties and injunction against further financial transactions if they guess wrong. There are no standards in the proposed UIGEA regulations which allow companies or individuals to safely navigate the inconsistent laws or ever-changing web business environment.
The iMEGA statement can be read in full here.
