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TREAS/DO RIN: 1505-AB78 Publication ID: Spring 2008 
Title: Prohibition on Funding of Unlawful Internet Gambling 
Abstract: The Unlawful Internet Gambling Enforcement Act of 2006 (the "Act") requires the Department of the Treasury and the Board of Governors of the Federal Reserve System (collectively, the “Agencies”), in consultation with the Attorney General, to promulgate regulations to implement applicable provisions of the Act. The Agencies published a proposed rule on October 4, 2007, and the public comment period closed on December 12, 2007. In accordance with the requirements of the Act, the final rule is expected to designate payment systems that could be used in connection with unlawful Internet gambling transactions restricted by the Act. The final rule will require participants in designated payment systems to establish policies and procedures reasonably designed to identify and block or otherwise prevent or prohibit transactions in connection with unlawful Internet gambling. As required by the Act, the final rule is expected to exempt certain participants in designated payment systems from the requirements to establish such policies and procedures if the Agencies believe it is not reasonably practical for those participants to identify and block, or otherwise prevent or prohibit, unlawful Internet gambling transactions restricted by the Act. Finally, the final rule will describe the types of policies and procedures that regulated participants in each type of designated payment system may adopt in order to comply with the Act and will include non-exclusive examples of policies and procedures that will be deemed to be reasonably designed to prevent or prohibit unlawful Internet gambling transactions restricted by the Act. 
Agency: Department of the Treasury(TREAS)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 31 CFR 132 
Legal Authority: 31 USC 321; 31 USC 5361 to 5367 
Legal Deadline:
Action Source Description Date
Final  Statutory    07/10/2007 
Timetable:
Action Date FR Cite
NPRM  10/04/2007  72 FR 56680 
NPRM Comment Period End  12/12/2007   
Final Action  09/00/2008   
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Steven D. Laughton
Senior Counsel
Department of the Treasury
Departmental Offices
Office of the Assistant General Counsel (Banking and Finance), 1500 Pennsylvania Avenue NW., Room 2027B,
Washington, DC 20220
Phone:202 622-8413

 
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