Friday, November 27, 2009

The US Government has Delayed the UIGEA Implementation

The Treasury Department and Federal Reserve have given permission to the financial institutions in the United States to delay their compliance with the UIGEA. They were set to take effect on December 1, but are now pushed back to June 1 of next year. The financial institutions have already stated the new rules will be difficult to implement because there isn't a clear definition of what constitutes internet gambling. The financial institutions, under the UIGEA, are required to decline payments from credit cards, checks or electronic fund transfers to settle online wagers.

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