U.S. officials on Monday released new regulations designed to put into effect a law aimed at stopping most forms of Internet gambling (UIGEA).

The new U.S. regulations would make the banks responsible for blocking credit and debit card payments for online gambling. However, banking officials appear to have successfully argued that it is not practical for the banks to identify and block customers from sending checks and making some other types of transfers.

The Treasury Department has said that it will accept public comment on these regulations through December 12.
We currently have lawyers looking at the proposed regulations and have contacted major players in the industry from sportsbooks to payment processors. We expect to have a full report on what this means to the future of moving money to and from your favorite gambling site next week.

To view a story from reuters news service, click here. To download the proposed regulations, click here.

Make sure to check back at in this space next week for a full report and tools to get involved.