Congress May Overturn A Three Year Old U.S. Ban On Internet Gambling
U.S. Rep. Barney Frank chairman of the House of Representatives Financial Services Committe said he would introduce a bill next week to overturn a three year old U.S. ban on Internet gambling.
The legislation would overturn a law imposed during the Bush administration that has hurt U.S. trade ties with the European Union.
The bill had been expected earlier, but Frank said his committee has been busy with other measures addressing the credit crisis and proposals to reform financial regulation.
EU online gambling firms lost billions of euros in value after the U.S. Congress in 2006 made it illegal for banks and credit card companies to make payments to online gambling sites.
