Temporary Respite for UIGEA Challengers
Pro online gambling groups who have been challenging the Unlawful Internet Gambling Enforcement Act for years now have been given temporary respite, following a dramatic decision by the Treasury Department.
The US government announced that it would be postponing the implementation of the UIGEA for six months to allow financial institutions another six months in order to meet compliance of the law.
However, it is believed that postponement is the current Obama administration's way of introducing far reaching changes in the gambling status quo of the country, in a bid to regulate and legalize the online gambling industry once and for all.
According to the Treasury's announcement, the UIGEA, which was due to be implemented today - December 1 - would be postponed until June 1st, 2010.
The six months repeal will allow legislators more time in order to work on their proposed laws against the UIGEA.
Democrat representative, Barney Frank, has been working tirelessly to have the Unlawful Internet Gambling Enforcement Act removed from the law books and it is hoped that his HR 2267 (The Internet Gambling Regulation, Consumer Protection and Enforcement Act) will garner even more support in the next six months.
"This will give us a chance to act in an unhurried manner on my legislation to undo this regulatory excess by the Bush administration and to undo this ill advised law," said Frank, referring to the UIGEA.
The Chairman of the Poker Players Alliance, Alfonse D'Amato said: "This is a great victory for poker, but an even greater victory for advocates of good and fair public policy. These additional months are critical to provide legislators time to clarify UIGEA and pass legislation to license and regulate poker early next year."
