I've put forth my effort. I had received the email from the PPA because I'm on their mailing list, but I'm glad you made a post about this.
Zach, I seen the bill and when I noticed it was 121 pages I didnt really feel like going through it at the time. Thanks for summing it up. Question, what about sites that allow prepaid vouchers as a form of deposit? Would that be a way around what these regulations propose?.....Hopefully Obama and the democrats will turn this thing around or the bill will need to be sent back for revisions so it doesn't make the deadline but looks like the latter is unlikely.
This is actually the biggest thing that will go. Prepaid cards and such that people currently use are easy to track and thus would no longer be able to be used. The one thing that it seems the sites can always be one step ahead of is Western Union/Monegram-type transfers to individuals. I don't know if there are just a ton of people or they have fake IDs and such, but they can continue to get new names for transfers as fast as banks can ban transactions with those people. So unless the banks started banning overseas transactions (not gonna happen), that's safe. Prepaid cards and such will no longer work at all.
I agree with the previous posts, however, I don't think that it will be enforced by the banks, due to the difficulty in monitoring the traffic. The real problem will be what you see in Kentucky, where the state government will prohibit internet access to poker sites. Anyway you look at it, unless they do a 180° turnabout on this, online poker may be seeing its last days in the US. So if you want to keep it, stay involved.
This is false. Actually the newest regulations actually affirm that unless there are additional laws (like in Kentucky), that PLAYING poker and WITHDRAWING winnings is legal. So they will not be able to block internet access and such. But the banks don't have an excuse for difficulty. It's law, and if they don't comply they can get in legal trouble. That's the difference. Before the law was there but they weren't really enforcing it. Now they are. If a bank fails to exercise "due diligence", they can be auditted and fined. Furthermore, the FBI/DOJ can do the enforcing, provide the banks with a list, and then the banks are banned from doing business with people on the list.
ANOTHER concern is that out of fear of getting in trouble, banks will over-regulate, and just ban anything overseas that looks like it could be associated with gambling. That's the biggest problem and it would be bad. Banks have a history of taking this path as well if you look at how they reacted to the Patriot Act and such. The one thing that is certain is that we can't just sit here and hope nothing bad happens.
As to where I'm getting this information, the poker legislation of 2+2 has a good amount of threads on it with a rep from the PPA posting there and answering questions. I pretty much spent 5+ hours last night reading every single post there, so I think I have a pretty good idea of what's going on.