Operator of a Designated Payment System Law and Legal Definition
According to 31 CFR 132.2 [Title 31 -- Money and Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter I -- Monetary Offices, Department of the Treasury; Part 132 -- Prohibition on Funding of Unlawful Internet Gambling], operator of a designated payment system means “an entity that provides centralized clearing and delivery services between participants in the designated payment system and maintains the operational framework for the system.”
