UIGEA regulations proposed

coosemaker

Dormant account
Joined
Mar 17, 2008
Location
Oklahoma USA
usa gambling ban

Good news indeed.
I for one,am sick of being treated like a little kid.
Can't do this,that..etc.

Can't wait to have a real bet on English horse racing,football(soocer)


Looking on the bright side.
Since Bush brought in this pathetic gambling law.

Lots of $$$ we have saved because of it!:)
 

Mousey

Ueber Meister Mouse
Joined
Sep 12, 2004
Location
Up$hitCreek
That is certainly good news.

But even if the proposed Regs survive, does this pretty well mean that routes to play can be opened. I could see a foreign bank and then a Neteller type account through the foreign bank. All transactions to the US would be bank to bank. All transactions to the Web Wallet would be via the foreign bank account. Under the proposed Regs, I don't see a problem with that arrangement. The only problem I see is we need a replacement for Neteller like we had a replacement for Paypal.

Will it be time to come back soon? Any thoughts from anyone?

Stanford.

Correct me if I'm wrong, but the charges and crap against NETeller 2 had nothing to do w/UIGEA but the old law in the books against sportsbetting. (You know, the one that keeps getting resurrected everytime the feds want to shut down a casino/sportsbook. And they scream online gambling is illegal.) JMO, but I think it would also have helped NETeller if they had supported other types of online transactions -- something other than gambling. Maybe if an ewallet didn't work at online sportsbooks it might skirt the DoJ and FBI hysteria?
 

stepfordwife

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Alleleuja!!!!!!!!!!!!!!!

FRANK LAUNCHES NEW ATTACK ON ANTI-ONLINE GAMBLING REGS

New bill seeks to stop implementation of unworkable UIGEA regs in its tracks

Following the recent Congressional hearings in Washington on the Unlawful Internet Gambling Enforcement Act, few can doubt that government agencies and the financial services industry required to police it have a monumental task in thinking up practical ways to implement a flawed law passed by Congress in 2006.

This week that task may have been made tougher by new legislation - H.R.5767 - introduced by influential Financial Services Committee chairman Barney Frank and presidential aspirant Ron Paul.

According to a statement from Frank and Paul, HR 5767 introduced this week seeks to prohibit the Federal Reserve Board of Governors and the Treasury secretary from "proposing, prescribing, or implementing any regulation that requires the financial services industry to identify and block Internet gambling transactions."

If approved, the Bill will effectively curtail the further operation of the UIGEA.

It comes after intense criticism of proposed regulations drafted by government agencies to give teeth to the Unlawful Internet Gambling Enforcement Act, which was designed to disrupt financial transactions with online gambling companies but places the burden of enforcement on the U.S. financial services industry.

Both Congressmen claim the UIGEA unduly infringes upon personal freedoms. "The ban on Internet gambling infringes upon two freedoms that are important to many Americans: the ability to do with their money as they see fit, and the freedom from government interference with the Internet," Representative Paul said.

Critics protest that the UIGEA is impossible to implement due to ambiguities in its language and a serious lack of definition, together with the impracticality of tasking an already stretched financial services industry with its complicated enforcement across a variety of financial and in many cases international instruments.

Congressman Frank has highlighted these flaws, saying: "I believe that even those who agree with it ought to be concerned about the regulations' impact," and pointing out that the recent Congressional hearing had showed that "the regulations are unworkable for the financial services industry."

Federal government executive Louise L. Roseman to an extent confirmed that, warning that banks had expressed uncertainty about implementing the law at the hearing on April 2 (see previous InfoPowa report) and commenting on the difficulty in drafting effective supporting regulations.

"The payment system, frankly, isn't well designed to be able to identify this activity," Roseman said.

Congressman Frank has another card ready to play in his fight against the UIGEA. His HR 2046 Internet Gambling Regulation and Enforcement Act currently has 48 co-sponsors and seeks to regulate and licence online gambling in the United States, raising tax revenues at the same time as controlling the popular pastime of Internet gambling.

If eventually passed, this bill could effectively overturn the UIGEA, although it is still in need of more political support.

A spokesman for the anti-UIGEA pressure group Safe and Secure Internet Gambling Initiative, Jeffrey Sandman applauded the new bill, saying: "The Frank-Paul bill would stop the U.S. government from taking any further steps on regulations that would require all of the country's financial institutions to block Internet Gambling payments."

"It's a bold move, but a necessary one, in light of the warnings from the Treasury and Federal Reserve that they did not know how to write regulations to solve the problems created by UIGEA.

"Further, witnesses representing a broad spectrum of the financial services community unanimously stated that the current ban on Internet gambling is dangerous to the payments system and ineffective in stopping people from using the Internet to play poker, make bets on horses, or engage in other types of wagering."


I am hoping to god that this is a light at the end of this very long and dark tunnel. Barney Frank, I love you.
 

Mousey

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You know that he is gay. :)

I love him anyway -- even if he is 'happy'. ;) I wouldn't give a rat's behind if he were Obama and Hillary's love child... He seems to be one of the few in Congress that has a little common sense.
 

jetset

RIP Brian
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Update

BANKERS APPLAUD ATTACK ON UIGEA (Update)

"We certainly appreciate the interest," says banking association

The Washington DC publication The Hill reports that the banking industry is cheering the fresh assault on the UIGEA (see previous InfoPowa report) mounted by House Financial Services committee chairman Barney Frank (D-Mass.) and Congressman and presidential aspirant Ron Paul (R-Texas).

Congressman Frank has teamed up with the libertarian-minded Paul, who crusaded against big government during his recent White House bid, on legislation to block the contentious 2006 legislation by forbidding federal officials from writing rules to implement it. Those officials have already admitted that the regulations supporting the UIGEA are proving difficult to draft, with strong opposition from the financial industry that is required to act as policeman for the federal government.

I dont know what can be done or will be done legislatively, but we certainly appreciate the interest, said the top lobbyist for the American Bankers Association , Floyd Stoner, of the Frank-Paul legislation.

Franks new legislation attacks the practical hurdles regarding the implementation of the Unlawful Internet Gambling Enforcement Act, rather than its legitimacy.

While I do disagree with the underlying objective of the act, I believe that even those who agree with it ought to be concerned about the regulations impact, Frank said in a statement. He argued that the regulations proposed by the Federal Reserve and the Treasury were ...impossible to implement without placing a significant burden on the payments system and financial institutions.

Supporters of banning online gambling have been quick to respond to the latest attack on the UIGEA, vowing to beat back the new effort to undo the law.

Our office will vigorously oppose any efforts to repeal or water down any parts of the [federal law], said Ryan Patmintra, a spokesman for Senate Minority Whip Jon Kyl (R-Ariz.), who was a chief sponsor of legislation to ban online gambling in the Senate.

Its another attempt to take apart a bill that was passed overwhelmingly by the House, said Tom McClusky, the vice president for government affairs at the Family Research Council , which had pushed hard for the federal crackdown. He noted that 48 state attorneys general had pushed for the federal law to enforce their state bans.

The National Football League and other professional and amateur sports organisations are also gearing up to fight Frank's new law, threatening to vigorously oppose the legislation, said Martin Gold, a lawyer at Covington & Burling and a longtime lobbyist for the NFL.

Federal law is murky on what constitutes illegal gambling online. Congress stopped short of defining it clearly in the 2006 law, directing the federal government instead to enforce state laws restricting such activities. It also excluded online horserace betting from the crackdown.

Now, writing rules to implement the law is bedeviling regulators. The challenge we have is interpreting federal laws that Congress itself isnt sure what they mean, Louise Roseman, a Federal official, testified on April 2 before Franks committee.

The banking industry has flooded the Treasury and the Fed with complaints about their proposed rules, arguing that it is too difficult for banks to sort out payments for legal wagers such as on horse races and those that are illegal.

The banking system is just not set up to sort out whether one payment is a legal payment and one payment is not, said the director of congressional affairs for the Independent Community Bankers of America , Steve Verdier. We think the [Frank-Paul] bill would give everyone the chance to take a breath.

Charles Rothfeld, a lawyer at Mayer Brown who has argued several cases before the U.S. Supreme Court, said that the Frank-Paul legislation is not likely to pose any constitutional problems. Congress gets to say the way in which its legislation is implemented. If it wants to issue legislation to preclude the promulgation of regulation, it can do that, he argued.

The Hill reports that aside from the banking industry, the Frank-Paul bill also has support from gambling aficionados and firms.

However, the American Gaming Association , which says its members do not include online gambling operators, has not taken a stance on the bill and remains "neutral" on the 2006 law. However, the association supports a bill sponsored by Representative Shelley Berkley (D-Nev.) to commission a one-year study of online gambling by a third party.
 

Mousey

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Its another attempt to take apart a bill that was passed overwhelmingly by the House, said Tom McClusky, the vice president for government affairs at the Family Research Council

Don't you love it? A bill that makes no sense, has the logic of something written by a roomful of monkeys, was rammed thru in the midnight hours, tacked on to an essential port security bill ....

grrrrr
 

winbig

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Pennsylvania
Don't you love it? A bill that makes no sense, has the logic of something written by a roomful of monkeys, was rammed thru in the midnight hours, tacked on to an essential port security bill ....

grrrrr

Yep...not everyone knows that it was a leaflet attached to that bill though....

Maybe the likes of CNN or someone needs to get this otherwise well known fact out to the public more. We know FOX won't spill the beans. :rolleyes:
 

silcnlayc

Just one more spin pleez!
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Congress moves to suspend internet gambling ban

Hope this hasn't been posted already...


Congress moves to suspend internet gambling ban



WASHINGTON, DC -- (PRESS RELEASE) -- The Safe and Secure Internet Gambling Initiative (SSIGI) announced its support for new legislation, H.R.5767, that would prohibit the Department of the Treasury and Federal Reserve System from proposing, prescribing or implementing any regulations related to the current ban on Internet gambling, as required by the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA). The bill was introduced yesterday by Reps. Barney Frank (D-Mass.) and Ron Paul (R-Texas).

"The Frank-Paul bill would stop the U.S. government from taking any further steps on regulations that would require all of the country's financial institutions to block Internet Gambling payments," said SSIGI spokesman Jeff Sandman. "It's a bold move, but a necessary one, in light of the warnings from the Treasury and Federal Reserve that they did not know how to write regulations to solve the problems created by UIGEA. Further, witnesses representing a broad spectrum of the financial services community unanimously stated that the current ban on Internet gambling is dangerous to the payments system and ineffective in stopping people from using the Internet to play poker, make bets on horses, or engage in other types of wagering."

The current Internet gambling ban creates significant additional burdens for U.S. financial institutions, which say that it is unfair to turn them into the Internet gambling police at a time when their undivided attention ought to be on the economy.

Testimony before Congress last week offered proof that financial services institutions would face serious regulatory burdens in attempting to enforce UIGEA and related regulations, which is unlikely to stop millions of Americans from gambling online.

Representatives from the Credit Union National Association, Financial Services Roundtable, American Bankers Association and Wells Fargo & Co. testified about the burden they would unnecessarily face before the House Committee on Financial Service's Subcommittee on Domestic and International Monetary Policy, Trade, and Technology on April 2. The current UIGEA law is ambiguous and allows for multiple interpretations of what may or may not be illegal activities.

Their comments reflect the concerns echoed in the more than 200 comments submitted to the Department of the Treasury and Federal Reserve System.

Frank introduced legislation last year, the Internet Gambling Regulation and Enforcement Act (H.R. 2046), that would regulate Internet gambling. The bill would require licensed Internet gambling operators to put in place safeguards to protect against underage and compulsive gambling and ensure the integrity of financial transactions.

A companion piece of legislation to the Frank bill introduced by Rep. Jim McDermott (D-WA), the Internet Gambling Regulation and Tax Enforcement Act of 2008 (H.R. 5523), would ensure the collection of taxes on regulated Internet gambling activities. According to a tax revenue analysis prepared by PricewaterhouseCoopers, taxation of regulated Internet gambling is expected to generate between $8.7 billion to $42.8 billion in federal revenues over its first 10 years.
 

bagofmaggots

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Hmmm

It sounds like a great idea...but I don't think it will get any serious attention from congress. Barney Frank and Ron Paul are are the sponsors. Neither are taken seriously. I'm tempted to say a fruit and a nut...but I won't
 

jetset

RIP Brian
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Update

ANTI-UIGEA CONGRESSMEN KEEP UP THE PRESSURE

Letter sent to senior government officials asks for a freeze on regulations

House Financial Services Committee chairman Barney Frank and other anti-UIGEA politicians kept up the pressure on federal officials this week following the introduction of their bill HR 5767, which seeks to prohibit the Treasury Department and Federal Reserve from proposing, prescribing or implementing any regulations related to UIGEA.

Several influential members of Congress joined Frank in a letter calling on the Treasury Department and Federal Reserve to halt the implementation of regulations related to the ban on Internet gambling, as required by the Unlawful Internet Gambling Enforcement Act (UIGEA).

"Given the many other priorities that are pending at your agencies...we believe it would be imprudent for you to devote additional agency resources to this Sisyphean task," wrote Reps. Frank, Luis V. Gutierrez (D-Ill.), Ron Paul (R-Texas) and Peter King (R-N.Y.) in letters to Treasury Secretary Henry M. Paulson, Jr. and Federal Reserve Chairman Ben S. Bernanke.

In Greek mythology Sisyphus was punished in Hades for his misdeeds in life by being condemned eternally to roll a heavy stone up a hill. As he neared the top, the stone rolled down again, so that his labour was everlasting and futile. It is an apt characterisation for the mammoth enforcement task that the UIGEA is trying to thrust upon a complaining financial services industry in the United States.

The members of Congress said they intend to "vigorously pursue" implementation of HR 5767 to new legislation to prohibit the Treasury Department and Federal Reserve from proposing, prescribing or implementing any regulations related to UIGEA.

Meanwhile, the Antigua government continues to closely monitor developments surrounding the UIGEA, a central issue in its successful World Trade Organisation wrangle with the United States. Minister of Finance and the Economy Dr. Errol Cort said that he has been following the discussions surrounding the United States' Unlawful Internet Gambling Enforcement Act, including the recent Congressional hearing on the proposed regulations that saw strong opposition from national banking and credit union bodies.

"Im not surprised in terms of the position taken by the American Banking Association and other interest groups because the legislation seems to be quite onerous," Dr. Cort told the Antigua Sun newspaper this week. "It seems to put a lot of burden on the banking sector to be the policeman for Congress, and the banks are pushing back in respect of that particular situation," he said.

Dr. Cort again drew attention to the better option for the USA afforded by Congressman Frank's Internet Gambling Regulation and Enforcement Act (IGREA) which aims to regulate and license online gambling instead of effectively banning the pastime through financially disruptive tactics.

Antigua and Barbudas attorney at the World Trade Organisation, Mark Mendel said that he thought the recent developments are good, particularly since it is stimulating meaningful discourse on the issue.

"What were looking for is a change in attitude in the United States and an ultimate acceptance of regulated internet gamblers. It is a direction that the rest of the world has either already moved to or is moving to and I think this latest legislation by Barney Frank, and the testimony up on Capitol Hill, is doing a good job towards educating the American public on this issue and how completely unworkable a prohibition is It works in our favour," Mendel said.
 

jetset

RIP Brian
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Kyl frustration over UIGEA regs

THE IMPATIENT POLITICIAN

Passing an online gambling ban is one thing...implementing it is quite another

Online gambling's arch enemy, Senator Jon Kyl of Arizona, appears to have little regard for the practical difficulties surrounding the implementation of his Unlawful Internet Gambling Enforcement Act, judging by reported comments he made this week.

The UIGEA, tacked onto a totally unrelated security bill, was passed in a late night, pre-recess session of Congress in October 2006, with a requirement that federal bureaucrats draft supporting regulations within 270 days.

Despite causing costly withdrawals from the US market by online gambling companies, UIGEA remains unsupported by the essential regulations, which officials are struggling to draft. The financial industry which will be required to do government's job in enforcing the regulations has been highly critical of the impractical and vague proposals offered thus far, and the project has gone significantly over the Congressional deadline.

This week the Las Vegas Review-Journal quoted Kyl as saying that he is losing patience with the Federal Reserve and the Department of Treasury as they continue to wrestle with the complexities of crafting sensible regulations to enforce the UIGEA, which seeks to disrupt financial transactions with online gambling companies.

Kyl said the regulations are a year overdue, according to the 2006 prohibition statute. "The longer it goes the less certainty there is," said the Senator. "I mean, the people who are violating the law need to know that they're not going to be able the get away with it, and I think that the failure to get these regulations promulgated on time has perhaps given some hope, and it's given life even to an idea over in the House of Representatives to put a moratorium on the regulations."

Kyl was referring to a bill introduced April 11 by Congressmen Barney Frank, chairman of the House Financial Services Committee, and Ron Paul, a Texas Republican. The Frank-Paul HR 5767 bill is designed to block the Federal Reserve and Treasury Department from completing regulations to enforce the ban, and has already attrracted support from at least ten other politicians.

In a financial services subcommittee hearing April 2 (see previous InfoPowa reports) Federal Reserve and Treasury Department officials admitted the regulations are proving to be a serious problem, partly because the 2006 legislation does not define unlawful Internet gambling.

Louise Roseman, director of bank operations and payment systems for the Federal Reserve, testified that the prohibition of Internet gambling fiancial transactions cannot be "ironclad."

Kyl is probably also looking over his shoulder at another bill - HR 2046 - proposed by Congressman Frank and currently supported by 48 other Congressman. The Internet Gambling Regulation and Enforcement Act seeks to licence and regulate online gambling in the USA, and has the potential to dismantle the UIGEA further.

Kyl is apparently not worried by these proposals, saying: "I would be concerned if something like that were to be adopted by the House ... I'm not sure that the momentum is there to actually get it done."
 

jetset

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More sponsors for Frank-Paul bill HR 5767

ANTI-UIGEA BILL HAS ALREADY ATTRACTED TEN CO-SPONSORS

Introduced on April 10, HR 5767 seeks to stop federal officials from implementing any supporting regulations

Introduced to the House by Congressmen Barney Frank and Ron Paul only on April 10, a bill seeking to halt the implementation of the notorious Unlawful Internet Gambling Enforcement Act has already attracted 10 co-sponsors, with more thought about to sign up.

HR 5767 targets the Treasury Department and U.S. Federal Reserve, enjoining them from continuing work on the regulations supporting the UIGEA, which have been heavily criticised for a lack of precision, and the impractcalities of enforcement through an already overworked US financial services industry.

Frank and Paul introduced the bill after a hearing conducted by the House Financial Services Subcommittee on Domestic and International Monetary Policy, Trade, and Technology that showed the weaknesses of and problems with the UIGEA (see previous InfoPowa reports).

The following congressmen have signed onto the new bill thus far:

Gary Ackerman (D-N.Y.)
Shelley Berkley (D-Nev.)
William Lacy Clay (D-Mo.)
Bob Filner (D-Calif.)
Luis Gutierrez (D-Ill.)
Michael Honda (D-Calif.)
Peter King (R-N.Y.)
James McGovern (D-Mass.)
James Moran (D-Va.)
Robert Wexler (D-Fla.)

All 10 supporters have also signed up as co-sponsors of Frank's IGREA bill that seeks to legalise and regulate online gambling. H.R. 2046, the Internet Gambling Regulation and Enforcement Act, has 48 cosponsors and is still making its way through committees in order to go to a vote on the House floor.
 

jetset

RIP Brian
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UIGEA complications for US online horserace betting

CARVE-OUTS DON'T HELP HERE

Kentucky Derby could be impacted by UIGEA complications

U.S. horse racing companies comfortable with their specially exempted online betting status in US legislation have apparently discovered some inconvenient facets of the Unlawful Internet Gambling Enforcement Act which has so effectively reduced competition by offshore firms.

The Boston Herald quotes gaming and banking industry experts as saying that horse racing fans looking to place online bets for the 134th Kentucky Derby this weekend may find their transactions blocked by banks and credit card companies trying to avoid running afoul of unclear federal regulations.

"Unless the government takes the responsibility of telling the banks which merchants they shouldnt deal with, and when banks take the position that they are not going to process these transactions without guidance, all heck will break loose," said Tony Cabot, an attorney with the Las Vegas firm Lewis and Roca, which represents the Nevada Pari-Mutuel Association.

The Herald notes that advocates for the banking and online gambling industries, legal scholars and several members of Congress are pushing the U.S. Treasury, the Federal Reserve and the Justice Department to clarify whether a regulatory exemption in the Unlawful Internet Gaming Enforcement Act that allows Internet gambling on horse racing could also mean that banks and credit card companies would be penalised for processing the money from those wagers.

Under the law, passed in 2006 as part of the SAFE Port Security Act, the nations banks and credit card companies are prohibited from accepting payments for some online bets or wagers. However, the financial institutions are largely left to figure out which gambling transactions are illegal and block payments.

Financial institutions say this unfairly puts them in the position of trying to decide whats legal with little clear guidance from the federal agencies responsible for implementing the rule.

Until the federal agencies issue better guidance, some financial service companies may refuse to handle any online gambling transactions, said I. Nelson Rose, a law professor at Whittier College in Costa Mesa, California. "The problem is that in some states online gambling is legal, in others it is not and in still other cases the question depends on where the bettor is, where the gaming operator is and what form of gambling is taking place," Rose told the newspaper.

The Herald recaps recent Congressional hearings and requests from federal officials for comment on implementing regulations designed to underpin the UIGEA. Over 200 responses were received and are still being considered by federal drafters. On the hearings front, many witnesses across the spectrum of those involved in the process were sharply critical of the law, which they called vague and costly for financial institutions to implement.

One of the most common complaints is that the rules fail to sufficiently define key terms, leaving financial institutions to figure out how to comply, said Congressman Luis Gutierrez.

"For example, the regulation fails to adequately define what constitutes unlawful Internet gambling or restricted transaction, yet requires the financial institutions to make a determination on their own about what is lawful or unlawful," Gutierrez said.

Also noted by the Herald are the current IGREA legislative attempts led by Congressman Barney Frank to legalise and licence online gambling, and a more recent move in concert with Congressman Ron Paul to halt federal drafters from further work on the now long over deadline regulations.

House Judiciary Committee Chairman John Conyers and Rep. Chris Cannon took former Attorney General Alberto Gonzales to task in a letter last year for the UIGEA's ambiguity on which states should block online horse gambling transactions. They still await a definitive reply.

In response, Deputy Assistant Attorney General Brian Benczkowski said then (and the Department of Justice has since reiterated that) "...while the UIGEA requires that the regulations be issued in consultation with the attorney general, the Department of the Treasury and the Federal Reserve have the primary responsibility for drafting the regulations, and therefore we would defer questions concerning the timing or the scope of the regulations to those parties."
 

jetset

RIP Brian
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PPA REMINDS SEN. KYL OF UIGEA IMPERFECTIONS

One of the most egregious flaws in the bill is that it does not define "unlawful Internet gambling" clearly

Las week's report in the Las Vegas Review-Journal (see previous InfoPowa report) that Senator Jon Kyl was growing impatient with the protracted drafting process on regulations to support the Unlawful Internet Gambling Enforcement Act elicited a tart response this week from the Poker Players Association.

The Las Vegas director of the PPA, Ken Illgen minced no words in his letter to the LVRJ editor, saying: "Frankly, the confusion regulators are dealing with as they develop the regulations to enforce the law is a direct result of how this act was written and sneaked into a must-pass port security bill in the dead of night, allowing no time for review and debate."

Illgen goes on to point out that one of the most egregious flaws in the bill is that it does not define "unlawful Internet gambling" clearly - something that the legislators trying to make Internet gambling unlawful should have included.

"This law is clearly unworkable, as regulators, bankers and several members of Nevada's congressional delegation have publicly stated," Illgen concludes. "To truly place checks and balances on Internet gambling, Congress should look to existing legislation that would seek to regulate online gambling in order to protect children and problem gamblers and collect the billions of dollars in lost tax revenue from these transactions.

"Let's not blame regulators for struggling to enact this flawed and ambiguous bill, and [instead] start looking for workable solutions to truly regulate this growing online industry.
 

silcnlayc

Just one more spin pleez!
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House committee to vote on suspending internet gambling ban!

House Committee to Vote on Suspending Internet Gambling Ban
PRNewsWire News ReleasesPublished: 06/20/08 01:09 PM CDTReleased By:
Safe and Secure Internet Gambling Initiative

NewsvineCommentCurrent law unduly burdens U.S. financial services institutions


WASHINGTON, June 20 /PRNewswire-USNewswire/ -- On June 24, 2008, the House Committee on Financial Services will mark up legislation, H.R. 5767, that would prohibit the Department of the Treasury and Federal Reserve System from proposing, prescribing or implementing any regulations related to the current ban on Internet gambling, as required by the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA).


"Congress has studied this issue and heard from the financial services community and federal regulators that the current ban on Internet gambling is burdensome and doomed to fail. Now it is time for Congress to change course and find a way to protect the millions of Americans that are continuing to gamble online," said Jeffrey Sandman, spokesperson for the Safe and Secure Internet Gambling Initiative.


H.R. 5767 was introduced by Reps. Barney Frank (D-Mass.) and Ron Paul (R-Texas) on April 11, 2008. The introduction followed a hearing entitled, "Proposed UIGEA Regulations: Burden without Benefit?" in the House Committee on Financial Service's Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. Reps. Frank and Paul stated in their press release accompanying the introduction of H.R. 5767, "it was clear at the hearing that the regulations are unworkable for the financial services industry, and this bill would, therefore prohibit their implementation."

Cont'd Link Removed (invalid URL)
 

lots0

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Finally some REAL action on the moronic UGIEA.... All I can say is... its about frickin time...

I hope the vote will be on CSPAN.


Oh ya... as far as Senator Kyle... Lets just hope the good people of Arizona see him for the douch bag he really is and dump him next election. We really don't need anymore politicos like him, politicos need to take their working orders from the public... not dictate to the public and try to force their own 'twisted' set of morals on the people they are susposed to work for.
 

Mousey

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Good piece on the vote...

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

By FreedomAtStake | View all Posts
Posted 1 hour, 12 minutes ago 1 comment

Things are about to get very interesting on the Hill.

Tomorrow, June 24, should see a scheduled vote by the US House Committee on Financial Services regarding H.R. 5767. Specifically, that bill is Barney Frank's legislation to effectively suspend the UIGEA from ever being enforced.

So, what does this mean?

Well, Democrat Barney Frank sponsored the bill and is also the Chairman of the Committee, so that's a good sign. The bill was co-sponsored by Republican presidential candidate Ron Paul, who also sits on the committee - another good sign. As well, the number of Democrats on the committee outnumbers the Republicans.

So, all things considered, one would have to think that this bill has a pretty good chance of passing through this vote.

But what then?

That's when things get cloudy because .....
 

Casinomeister

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Bierland
Like I mentioned in another thread - here are some important links if US players want to contact their representatives:

Congressional reps:
Old URL

Here is a list of who is on the committee:
You do not have permission to view link Log in or register now.

__________________
 

lots0

Banned User - troll posts - flaming
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Hell on Earth
The bill passes the committee unanimously on a voice vote... Yaza:thumbsup:

Sounds like there will be follow up hearings tommrow on some admendments to the bill.
 

chovig

Dormant account
Joined
Jun 24, 2008
Location
usa
I know almost nothing about this.
I am just getting started with online gaming.
I know, I know, where have I been?
But,
as a USA player, how does this impact me?
It sounds like I am sorta good to go.
Or should I still be worried about tptb?
 

lots0

Banned User - troll posts - flaming
Joined
Jun 3, 2006
Location
Hell on Earth
As a player, in the short term, this bill will effect how easily you will be able to deposit and withdraw from online casinos.
In the long term, this bill will help to decide if Americans will be able to play at casinos regulated by their own government or if Americans will have to depend on other countries to regulate the casinos they play at or play at unregulated(unsafe/rogue) casinos.

As an American, this effects your freedom to decide for yourself how to spend your money.

Just my 2 pennies worth... :)
 

chovig

Dormant account
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Location
usa
Thank you.
I have a lot to learn.
And I apologize for posting in the industry section.
 
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