UIGEA 6 month delay on the cards?
We all know that UIGEA is unworkable and a useful piece of legislation that has enabled some US facing firms an unfair advanatge in poker. Now we learn that after three years it faces another 6 month delay.
Some hope that strict enforcement of UIGEA will wipe out Fulltilt and Pokerstars. However, bank cheques and wires are already exempt (which is how these companies payout their players).
So WHAT IS THE POINT? It simply drives US players underground to unregulated companies and it loses the US government billions in possible tax revenues. Can US politicians be that stupid?
My view that we will see regulation and that Partygaming will have its time in the sun.
Online Poker: 6 Month Delay in UIEGA Regulations [gambling911]
Good news for online poker players as Gambling911.com can reveal that the US Treasury Department is expected to delay implementation of regulations that would require banks to stop online poker and other gambling transactions via credit cards.
A number of high profile sources have informed Gambling911.com of this development.
UIGEA is short for the Unlawful Internet Gaming Enforcement Act, passed in October 2008, which made some forms of online gambling illegal but exempted others such as horse racing and state lotteries.
Banks and other financial institutions originally had until December 1st, 2009 to comply with the UIGEA rules. The new guidelines have become especially watered down in recent months. Wires and bank checks are no longer mentioned as part of UIGEA.
The Poker Players Alliance (PPA) has been lobbying hard to delay the scheduled regulations and appear to have had some success on this front.
A hearing on this matter is slated for December 3 but Gambling911.com has already learned that the postponement is "expected" according to our sources.
Barney Frank's office was expected to release a statement shortly.
.
0 comments:
Subscribe to:
Post Comments (Atom)
