More to expect when it comes to UIGEA Regulations
December 1, 2009
News has it that the implementation process of the UIGEA/Unlawful Internet Gaming Enforcement Act regulations has been delayed once again. The US Treasury Department is expected to delay the operation of regulations that will necessitate banks to stop online poker and the other gambling procedure via credit cards.
The UIGEA was passed in October 2006 when it started categorising some forms of online gambling making them illegal. Some forms of gambling such as such as horse racing and state lotteries have been exempted from this but the others started to suffer.
It was said initially that the banks and other financial institutions had a limit set that by the 1st of December, 2009 to comply with the UIGEA rules but bit by bit, the new guidelines have dwindled into nothing with bank wires and checks barely being mentioned as part of UIGEA.
The PPA/Poker Players Alliance is the force behind this delay as they have been fighting and lobbying very strongly against these regulations to appear. This seems to have worked as now the delay is final and it seems like it will take another 6 months for any real regulations to kick in. The delay is in fact expected as we wait eagerly for Barney Frank’s office to release a solid statement this week.
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