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Policy Advisory Questions Effectiveness of UIGEA Implementation Rules
U.S. financial institutions will face a variety of regulatory burdens to prevent the processing of ‘illegal’ internet gambling transactions under the proposed rules to implement the UIGEA according to new analysis.
According to an advisory by the law firm Alston & Bird, U.S. residents would be able to circumvent the proposed regulations and continue to gamble online by processing financial transactions through a foreign bank account in a jurisdiction where Internet gambling is legal.
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