Republicans Want UIGEA Implementation to Move Forward

[vegetagirl2008]

While some in the United States Congress are trying to delay implementation of rules regarding the Unlawful Internet Gambling Enforcement Act, there are others pushing for the rules to be set in motion on time.

On December 1st, banks will be forced to comply with the UIGEA or face potential penalties from the U.S. Federal Government. (Heres a good primer on what the UIGEA is and the deadline). Some congressmen, spearheaded by Rep. Barney Frank (D-Mass.), have asked that that deadline be moved back a year. Theyve written letters to the Federal Reserve Board and the Treasury Department.

A couple of Republicans thought sending a letter would be a good idea, too. Sen. Jon Kyl (R-Ariz.) and Rep. Spencer Bachus (R-Ala.) sent a letter to the Treasury and the Fed. Except they were urging that the Dec. 1 deadline be met. You can read the whole letter here. If you dont want to read the whole thing, the letter begins:

It has come to our attention that three associations representing the gambling industry recently submitted a request that the Treasury Department and Federal Reserve delay the compliance date of the Final Rule implementing the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) by an additional 12 months. We are also aware that 19 out of 71 Members of the House Financial Services Committee sent a letter to you in support of this request. We strongly oppose this request and believe that there is no justification for delaying the compliance deadline of the UIGEA regulations.

Kyl and Bachus contend that the rule should be implemented now and monitored, and that delaying the compliance date serves no interest except that of the Internet gambling enterprises that have long evaded American gambling laws and will continue to do so until effective enforcement is in place.

Theres not really been any word on if any of these letters are being considered, or if a delay of the Dec. 1 deadline is possible. More on the Dec. 1 deadline as details become available.

You do not have permission to view link Log in or register now.