Breaking News: U.S. Bill Targeting UIGEA Scheduled to be Amended Thursday

[Brandon]

Received this just now from iGamingNews.

Dear Brandon ,

Interactive Gaming News has learned that HR 5767, a United States bill co-sponsored by Representatives Barney Frank of Massachusetts and Ron Paul of Texas, is scheduled to be amended Thursday.

In its current form, the bill, introduced in April, would prohibit the Treasury Department and Federal Reserve from "proposing, prescribing or implementing" any regulations under the Unlawful Internet Gambling Enforcement Act.

"If enacted, the bill would strip the UIGEA of any practical effect," a source in Washington, D.C., who is closely acquainted with the legislation told IGN in April.

How the bill will be amended remains to be seen.

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[Marcelo]

This is breaking news.

Let's hope they do something good for us, for a change.

[SmackDog]

Anyone hear anything about this yet?

[Beanie]

I read a little bit about it in the Legislation forum.

Kind of a yawner actually. I mean it is good that legislation is moving forward but this type of stuff is a long way from being approved.

I am hoping to go to the meetup in DC with the PPA in September. Realistically I think much of this stuff is years away. Not to mention most places have figured out how to act around the law. Especially poker.

[bg]

This is still a few years away before they can do away with this. I would like to think that there is too much opposition to try to enforce this so it will just remain lingering for a while.

BG

[Brandon]

Originally Posted by bg

This is still a few years away before they can do away with this. I would like to think that there is too much opposition to try to enforce this so it will just remain lingering for a while.

BG

same as what I thought. Just posted the email as I received it.

Nice to see you back at pap BG, been a bit

[bg]

Thanks Brandon

Through the eyes of the Gov't - this current situation works for them. They didn't wipe it out for good but they knocked a chunk off. Even though the industry has recovered, there is still the unknown area. The one that tells operators that they "could" get nabbed at an airport, or one that tells them that if they spend millions building up a big database of US players that if "could" go to waste by having their processors knocked down. I think they gov't is content with this situation and will do very little to change it. It is not going to be an overnight process getting out of this dark area. Not the time to pay big CPA's yet!

BG

[Brandon]

Just an update:

The US House Committee on Financial Services is due to vote today on suspending regulations under the Unlawful Internet Gambling Enforcement Act 2006. Introduced by Congressmen Barney Frank and Ron Paul, HR 5767 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 UIGEA.

[Darko]

oh well 32-32 vote, would you believe it - bill defeated

[SunPoker.com]

Great video on Ron Paul's stance: HR5767

Mark