### Question
What does designated payment system mean?


### Answer
**Designated payment system** has the following meaning in *31 U.S.C. § 5362*:

> any system utilized by a financial transaction provider that the Secretary and the Board of Governors of the Federal Reserve System, in consultation with the Attorney General, jointly determine, by regulation or order, could be utilized in connection with, or to facilitate, any restricted transaction

#### Citation:
  - *31 U.S.C. § 5362*
  - Heading: **SUBTITLE IV-MONEY > CHAPTER 53-MONETARY TRANSACTIONS > SUBCHAPTER IV-PROHIBITION ON FUNDING OF UNLAWFUL INTERNET GAMBLING**

