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UIGEA Deadline Approaches
Monday, 12 October 2009 01:03

It may be just over six weeks away, but the 1st December deadline for US banks and financial institutions to fully comply with the regulations of the unpopular UIGEA (Unlawful Internet Gambling Enforcement Act) is racing up toward the Internet gambling community and little appears to have been done to stop it. However, all is not completely lost, at least not yet.

There is some action being taken by various groups, such as the PPA (Poker Players Alliance) in an attempt to slow down the inevitable and give hope to millions of Americans that there still may be a way out of this mess.

Senator Barney Frank is at this very moment rallying his troops in an all out assault on the UIGEA. With now 61 congressmen backing his proposed bill to overturn the unpopular law, he is gathering the necessary momentum that he'll need to see it through. But in the meantime, Frank has introduced HR 2266, a move that is designed to delay the deadline set out in the UIGEA for a year. The thinking behind this late move is that it will give him time to press home his bill while also providing lawmakers with sufficient time to consider better alternatives to handling Internet gambling in the United States.

What has held up his main assault on the 2006 law is a series of what are considered to be more important issues going on in government circles, such as the state of the economy and President Obama's heavily promoted health care reforms. These have all taken the attention of congressmen away from Frank's proposals and caused his bill to falter while these more important considerations are attended to.

The PPA is actively pursuing any avenues of relief to the impending disaster for the industry and has possibly found one powerful and legitimate means to this end. The Administrative Procedure Act is a vehicle for individuals as well as organisations such as the PPA to put their case to the Treasury Department and request a delay in the new rules.

They are hoping to argue their case that the government will stand to make a substantial amount of money from the taxation and regulation of online gambling in the US and if successful, a much needed delay in the UIGEA rules could become a reality before it's too late.

 
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