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Bugsys Club to continue

  
 
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Xianti
Old 10-03-2006, 07:06 PM     Post subject: Bugsys Club to continue #1 (permalink)  
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Join Date: Dec 2003
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 From Bugsys Club to its members:


Regarding the recent bill passed regulating payments to online gaming sites-

Most important is that this bill does NOT make it illegal for individuals to play poker online.

The bill targets payment processors and US banks and is basically trying to make it difficult for online poker sites to allow their customers to fund their accounts (nothing new here really).

The bill does not take effect immediately. After the president signs the bill into law (if) (within the next 7-10 days), a government board will have 270 days to come up with new regulations for the banks and payment processors to follow. And even after the regulations are published they will likely not go into effect immediately, since the banks and payment processors will need time to add systems to comply with the new regulations. Smaller banks have already stated they would not even have the necessary resources in place to monitor such transactions.

We want you to know that we will continue doing business with our US customers. We are a legal and licensed business in the Netherlands Antilles and none of our operations are carried out on US soil. We have no intention of closing USA player accounts or restricting their ability to play on BugsysClub.

The World Trade Organization ruling brought by Antigua and Barbuda has repeatedly instructed the United States to stop trying to block US residents from playing at such operations while the US simultaneously favors certain US operations (such as horse betting, lottery etc).

I will personally update you with any updates to this situation if or when they occur.

Luck Bugsy
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