New legislation aimed at establishing a regulatory framework that enables internet gambling companies to operate in the US has been unveiled by the chair of the Financial Services Committee, Barney Frank.

The Internet Gambling Regulation, Consumer Protection and Enforcement Act 2009 has been introduced by Frank in response to the Unlawful Internet Gambling Enforcement Act 2006 (UIGEA), which has restricted the payments system for US online gamblers.

Under the terms of the new bill, the Department of the Treasury would be given exclusive authority to award licences to internet gambling operators, provided that companies pass financial and criminal checks.

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