United States Online Betting Given 6 Months Suspension
Online casino gambling advocates were celebrating after the United States Department Of Treasury and Federal Reserve Board announced implementation of the Unlawful Internet Gambling Enforcement Act was to be delayed by six months until June 1, 2010.
The act would have made it illegal for United States banks, credit card and financial companies to process internet Betting transactions but it has proved an unpopular piece of legislation and been challenged domestically as well as at the WHO.
“This is a great victory for poker but an even greater victory for advocates of good and fair public policy,” stated Poker Players Alliance Chairman,”These additional months are critical to provide legislators time to clarify Unlawful Internet Gambling Enforcement Act and pass legislation to licence and regulate poker early next year.”
The delay allows online Betting protagonist congressman Barney Frank time to further push two pieces of legislation designed to further the online Betting. The passing of HR 2266 would initially delay the Unlawful Internet Gambling Enforcement Act by an additional 6 months while HR2267 would “provide for the licensing of Internet Betting 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 stated, they “deserve a great deal of credit for sUnited Statespending these midnight regulations promulgated by the Bush administration which would curtail the freedom of Americans to United Statese the Internet as they choose and which would pose unrealistic burdens on the entire financial community.”
“This will give United States 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.