eCommerce Journal - Learning more about virtual economy - News, Law aspects

Battle around gambling in USA. Passions run high

ayny — Fri, 10 Oct 2008 12:29:00 +0200

Not so long ago California governor Arnold Schwarzenegger has stated his position regarding the ban of online gambling in the USA. However not all of his colleagues have the same point of view. The governor of Kentucky, Steve Beshar was very critical and urged to prohibit Internet gambling through the seizure of Internet gambling domain names.

Arnold Schwarzenegger wants to terminate the "anti-gambling" act

ayny — Wed, 08 Oct 2008 12:39:53 +0200

Having issued Unlawful Internet Gambling Enforcement Act in 2006 the USA declared all the online casinos illegal and has deprived the US residents to play openly. However, the trouble of the Americans turned into the happiness of the Europeans. UIGEA was a real accelerator for the European gambling industry.

More over, many governments work on the laws to regulate the industry that promises wonders and to legalize it.

Norway fights against online gambling

ayny — Tue, 07 Oct 2008 13:00:17 +0200

After the US government has banned online casinos, and all kind of gambling on the Internet all the players moved to Europe that is milder to online gamblers. However, it seems that Norway decided to show its severe temper of the northern country.

The first moves towards the ban of online gambling were made last November when the Norwegian Government has submitted the proposal for a period of public comment which was to be ended in February, 2008.

Copyright and licenses, law and its limitations

ayny — Tue, 19 Aug 2008 08:01:09 +0200

The exclusive rights of copyright owners are narrowed by the limitations and exceptions under the Copyright Law. One such limitation is the compulsory licenses and the effect on the copyright holder. However the fact that a compulsory license does not need to be negotiated but is preset has proven to assist with the dissemination of copyrighted works.

Ukraine restricts the provision on e-currencies

ayny — Fri, 01 Aug 2008 14:41:45 +0200

The National Bank of Ukraine has approved the provision on e-currencies and has declared that only banks will have an exclusive right to issue them. This provision will come into force on August 5, 2008.

According to this provision all persons and entities which are not banks also prohibited to accept any e-currencies and to exchange them except for the cases when the entities have an agreement with the issue on distribution of the e-currency.

Penalty for compliance failure imposed on E*Trade

ayny — Thu, 31 Jul 2008 15:45:18 +0200

$1 million is to be paid by online brokerage E*Trade to settle claims that two of its units failed to comply with US anti-money laundering (AML) regulations without admitting or denying the allegations against the company.

Under the terms of AML rule broker-dealers are required to verify the identities of customers and document the procedures for doing so.

How to behave online

ayny — Fri, 25 Jul 2008 09:46:20 +0200

The use of Internet has determined that certain rules or conduct should be followed. Specifically the Internet Society has drafted their own code of conduct that must be complied with by its members. This code of conduct include ethics and other issues that have been of growing concern including privacy, encryption and spam issues. The code of conduct governs the practice of unfair business and competitive practices in dealing with electronic commerce issues as well.

National Bank of Malawi worries about legislation

ayny — Wed, 23 Jul 2008 12:26:46 +0200

National Bank of Malawi (NBM) expressed its concern regarding the absence of the relevant legislative base to match the current global technological needs.

The bank notes that the existing laws in the sphere of commerce make allowance for checks and cash as the only legal payments which are found by the bank to be very archaic.

The hottest: Credit Card Fair Fee Act

ayny — Wed, 16 Jul 2008 12:07:33 +0200

US voters were polled to express their opinion on the Credit Card Fair Fee Act, a legislation according to which retailers are allowed to negotiate credit card fees directly with the credit card industry in order to cut interchange fees. The survey shows that 77% of them support the new legislation.

Online banking from the legal point of view

ayny — Fri, 11 Jul 2008 13:44:25 +0200

The use of electronic banking poses many potential concerns with privacy, online theft and identity theft. The use of these processes may hold more convenience; however there may be some losses that will occur as a result of its use.

Online security concerns the nobility

ayny — Wed, 09 Jul 2008 10:45:46 +0200

Online security related to the sensible information concerns the UK House of Lords. The members are calling for improvements to the way personal data is protected on the web.
The government was inculpated by the Select Committee for "a level of indifference dispelled only as a result of recent incidents involving serious losses of personal data".

China restricts its law regarding e-commerce

ayny — Fri, 04 Jul 2008 14:44:18 +0200

On July 3, 2008 the Beijing Administration of Industry and Commerce has published an announcement with the draft of new rules for Internet commerce, which will come into force on August 1.

According to the new rules all "for-profit online stores" will be obliged to register for a license, as for the "individuals who sell or exchange items for personal use", they are not required to pass the registration.

Amendments to the Code of Banking Practice

ayny — Mon, 30 Jun 2008 17:52:50 +0200

New amendments were introduced to the banking industry's Code of Banking Practice in order to provide better protection for users of internet banking services.

InternetNZ (Internet Society of New Zealand) expressed concern about an unfair burden of responsibility put by the code on internet banking users which brings more advantages in favor of the banks to an excessive degree.

Online commerce is to cross borders in Europe

ayny — Sat, 21 Jun 2008 15:20:57 +0200

Geographical restrictions imposed by online retailers on the shoppers are going to be eliminated by the EU.
Meglena Kuneva, EU consumer chief, gave a speech in London where she stated that she would propose new legislation this autumn for creating an EU-wide set of rules governing online and in-store transactions.

Some changes in Online Payment Agreement Application

ayny — Tue, 10 Jun 2008 14:17:59 +0200

The Internal Revenue Service has introduced several new features to the interactive Online Payment Agreement application , which will make it easier for taxpayers and their authorized representatives to make changes to existing installment agreements.

The system will now permit:

Legislation in defense of merchants

ayny — Mon, 09 Jun 2008 13:02:12 +0200

Credit Card Fair Fee Act of 2008 introduced by US Senator Dick Durbin to "safeguard consumers and retailers by preventing credit card companies from using their market power to charge unfair fees through an unfair process" put MasterCard and Visa under great pressure.

eBay vs Craiglist - to be continued

ayny — Wed, 14 May 2008 13:31:58 +0200

The "fight" between two websites eBay and Craigslist, that became one of the most popular ones, is not going to stop. On the contrary it became known that Craigslist has countersued eBay Inc. and allege that online giant is breaching federal and state antitrust laws.

New regulations for online transactions in China

ayny — Mon, 12 May 2008 11:34:19 +0200

Two new important regulations enacted by the Ministry of Commerce: the E-commerce Pattern Regulation and Online Shopping Service Regulation should be observed by the public to strengthen the control on online transactions in China.

Yahoo is sued for $1 Million

ayny — Fri, 18 Apr 2008 19:09:21 +0200

Despite a deal Microsoft-Yahoo has not solved yet, a new piece of news involving Yahoo is widely discussed online. An Internet retailer that used a pay-per-click advertising service operated by Yahoo is suing the Internet giant for more than $1 million, claiming it was overcharged by thousands of dollars as a result of click fraud that Yahoo did little to prevent.

Stepping on heels of online gambling

Natalia — Wed, 13 Feb 2008 06:52:48 +0100

The European Commission once again warned Germany and Sweden over the gambling restrictions, menacing to sue Germany over online gaming ban that came into force January 1^st, 2008 and Sweden - over poker restriction. Last year the European Court of Justice made two landmarks rulings against Italian gaming restrictions. In March European Supreme judges used criminal laws to hold back foreign companies