Sec. 104. Anti-money laundering provisions
245 words·~1 min read·
/bill/115/s/3793/is/section-104·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5312(a)(2)(X) of title 31, United States Code, is amended— in the matter preceding clause (i), by inserting sports wagering operator (as defined in section 3 of the after Sports Wagering Market Integrity Act of 2018 ), gambling casino, ; and in clause (i), by inserting sports wagering operator, after gambling casino, . Not later than 180 days after the date of enactment of this Act, the Secretary of the Treasury shall amend— part 1021 of title 31, Code of Federal Regulations, to provide that sports wagering operators shall be treated the same as casinos with respect to any requirement under that part; and sections 1010.312, 1021.311, and 1021.312 of title 31, Code of Federal Regulations, to specifically address the means by which a sports wagering operator shall, under each such section, verify the identity of an individual who conducts a transaction described in that section over the internet.
In this subsection, the term Bank Secrecy Act means subchapter II of chapter 53 of title 31, United States Code. The submission of a suspicious transaction report to a State regulatory entity, the National Sports Wagering Clearinghouse, or a sports organization shall not be considered to violate— any provision of the Bank Secrecy Act; or any regulation promulgated under the Bank Secrecy Act that limits the disclosure of information that would reveal the existence of a suspicious activity report filed with the Financial Crimes Enforcement Network under chapter X of title 31, Code of Federal Regulations.