gg

[Ragnar4]

Ok.

Here's the deal. Institutions cannot accept any form of money from these earmarked institutions, whoever they are determined to be.

Lets say that Pokerstars is one of those earmarked institutions.

What this legislation is doing, is they are allowing us to put money into the account, and play, and we'll even be able to cash out, because Pokerstars initiates their checks from banks within the US I get mine from Bank of America.

Where things will begin to fall apart is: As money is taken from these pay-out accounts, it simply cannot be replenished. No matter how many times they attempt to re-route and move the money into different institutions, the originator of the funds will always be associated with the funds themselves, and any time they attempt to move the funds into the us, those funds make a stop at the FEDERAL RESERVE. If those funds do not meet the proper criteria, they are simply reversed out by the federal reserve to a the originating institution.

So what happens is while you're Ballin' and livin', and spending money like your 11, the account that holds your funds will eventually run out, and then they won't be able to issue you a check any more.

Say they issue you a check from France then? That will work for a while, until they figure out that the bank from France is issuing these checks. The federal reserve will then issue instructions to the banks that all checks from that bank in france need to be issued for collections which will require from 30-90 days and a HEFTY Fee charged by the bank to cash those funds to evaluate whether this check came from the evil pokerstars institution.

If they can't negotiate those funds, you still lose the fee.

They aren't attacking the players, that's silly, they are just making it not worth the players time to put his butt in his seat and log in.

this is not even close to the analysis of the few knowledgeable people on 2p2, unless there were some radical developments over the last few hours

I work for one of the most reputable banking institutions in the US. While I haven't combed the actual legislation myself, I have had discussions with my own legal team about this legislation. This is the conclusion we came to on our end, concerning the most logical way to regulate funds with the information we had.

I'll take a 2nd look at the legislation and see where I was wrong....