US Online Poker Given 6 Months Reprieve As UIGEA Postponed

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Online gaming proponents were celebrating after the US Department Of Treasury and Federal Reserve Board announced implementation of the Unlawful Internet Gambling Enforcement Act (UIGEA) was to be delayed by six months until June 1, 2010.

The act would have made it illegal for US banks, credit card and financial companies to process internet gambling transactions but it has proved an unpopular piece of legislation and been challenged domestically as well as at the World Trade Organization.

“This is a great victory for poker but an even greater victory for advocates of good and fair public policy,” said PPA Chairman Alfonse D’Amato,”These additional months are critical to provide legislators time to clarify UIGEA and pass legislation to licence and regulate poker early next year.”

The delay allows online gaming protagonist congressman Barney Frank time to further push two pieces of legislation designed to further the online gaming cause. The passing of HR 2266 would initially delay the UIGEA by an additional 6 months while HR2267 would “provide for the licensing of Internet gambling activities by the Secretary of the Treasury, to provide for consumer protections on the Internet, to enforce the tax code, and for other purposes.”

Following the announcements, Frank said, they “deserve a great deal of credit for suspending these midnight regulations promulgated by the Bush administration which would curtail the freedom of Americans to use the Internet as they choose and which would pose unrealistic burdens on the entire financial community.”

“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,” Frank commented.