The short version:
"Technically, the new law does not make it illegal to play poker on the Internet. Instead, it makes it illegal for any bank, credit card company or other financial intermediary to process transfers to or from an Internet gaming site.

In other words, there is no practical, safe way to legally deposit money into your PokerStars account to play in a tournament or take money out if you win. "

http://www.cbsnews.com/stories/2006/...02_page2.shtml