Monday, July 19, 2010

New UIGEA Hearing

Barney Frank has finally rescheduled the hearing for the HR 2267, Internet Gambling Regulation Consumer Protection and Enforcement Act now set to take place before the House Financial Services Committee on Wednesday July 21. Frank attempted to pass a bill that delayed the UIGEA coming into force until December 2010 but only succeeded in delaying the act until June 2010.

The act came into full force on June 1, 2010 and although it appears to have had a limited effect on the industry as a whole, Frank and a number of pro-poker groups are campaigning for regulated internet gaming on a federal and state level. Frank's bill, HR 2267, essentially highlights comprehensive licensing and regulatory framework for internet gambling in the United States. HR 2267 has 69 co-sponsors from both Republican and Democratic politicians. It is expected representatives from the US Treasury and Federal Reserve, the people responsible for delaying the initial date of the UIGEA, will be present this Wednesday.

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