Monday, November 23, 2009

United States Online Gambling

Though the UIGEA was passed in 2006, its' implementation is to begin in less than two weeks, on December 1, 2009. Many banks have feared the order and do not feel they will have the proper methods in place for compliance. Though Barney Frank has already created a bill to at least put the implementation on hold, it is doubtful any votes will be seen before the end of 2009.

Online gambling remains a heated debate for many though it seems the Obama Administration has placed it on the back burner, upsetting the citizens that trusted Obama being elected president would finally remove the religious prejudice that caused the UIGEA to be inserted in the first place.

Two longtime opponents of internet gambling issued a letter to Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Timothy Geithner calling for the compliance date of the Unlawful Internet Gambling Enforcement Act (UIGEA) regulations (December 1st) to be enforced. They state they oppose Barney Frank requesting to postpone the implementation because they "believe there is no justification for delaying the compliance deadline of the UIGEA regulations."
The effect the UIGEA will have after Dec. 1 is unknown but many are anxiously waiting to find out.

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