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Frank and Paul Launch Bill to Prevent UIGEA Blocking Online Poker Online Gambling TransactionsMon, Apr 14th, 2008 @ 12:00am House Financial Services Committee Chairman Barney Frank (D-MA) and Ron Paul (R-TX), a presidential aspirant and senior Financial Services Committee member, introduced new legislation to prohibit the federal government from issuing regulations to enforce the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA), such as those proposed last fall which were deemed unworkable and based on unclear legislation at a recent Subcommittee hearing. "The legislation introduced April 10, H.R. 5767, will forbid the Secretary of the Treasury and the Board of Governors of the Federal Reserve System from proposing, prescribing, or implementing any regulation that requires the financial services industry to identify and block internet gambling transactions" states a press release from the House Financial Services Committee. "These regulations are impossible to implement without placing a significant burden on the payments system and financial institutions, and 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," said Rep. Frank. It was emphasized at the April 2nd Data and Information Management Panel (DIMP) Subcommittee hearing, that the proposed regulations are unworkable for the financial services industry, and this bill would, therefore prohibit their implementation. The hearing, which was entitled: "Proposed UIGEA Regulations: Burden Without Benefit?" heard loads of negative feedback about implementing the regulations proposed last year by the Federal Reserve and Treasury to enforce the UIGEA. Testimonies at the hearing were in addition to the more than 200 written comments submitted during the public feedback period at the end of last year. Chairman Frank and Congressman Paul from the start have opposed the UIGEA. They have been working on legislation, H.R. 2046 to license and regulate online gaming, that would work in tandem with the bill to tax online gambling which Jim McDermott recently updated. Read Related Articles:
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UIGEA Delayed 6 Months in Temporary Victory for Online Poker Days before the December 1 deadline for implementing the UIGEA, the U.S. government announced a six-month postponement of the poorly defined anti-gambling regulations. The U.S. Department of the Treasury and the Federal Reserve Board jointly released a statement moving the deadline for UIGEA compliance to June 1, 2010.
Fabrice Soulier Joins Everest Poker's Pro Roster To further strengthen its support for French poker in anticipation of the opening of that market, Everest Poker has signed renowned French poker pro Fabrice Soulier as its latest ambassador.
HHPT Co-Sponsors Bayou Poker Challenge Ladies Event Dec. 20 The HighHeelsPokerTour (HHPT), the first all women's poker tour launched on the East coast, will wrap up their 2009 schedule at Harrah's New Orleans on December 20th where they will co-sponsor the Ladies Event #14 no-limit Hold'em at 12 pm.
OPPAGA Reports on Florida's Online Poker Options Given that UIGEA permits individual states to regulate online poker, the Florida Legislature's Office of Program Policy Analysis and Government Accountability (OPPAGA) published a report this week presenting three options available to Florida State lawmakers in order to protect consumers from unlawful internet poker: regulate it, prohibit it, or carry on with the status quo pending federal legislation.
BC Poker Champion Arrested, Charged with Manslaughter Just two days after taking down the BC Poker Championships Main Event, Sophon Sek of Cloverdale, BC, was arrested in connection with one of the most storied crimes in the Province's history.
Local Businessman Bags European Poker Tour Vilamoura Bling The European Poker Tour rolled into the Casino Vilamoura last week, instantly generating the richest poker prize pool in the nation of Portugal's history.
Keikoan Captures Harvey's Lake Tahoe WSOPC Championship This week marked the finale of the biggest annual tournament series in Northern Nevada, the WSOP Circuit championship at Harvey's Lake Tahoe. While the Main Event saw only a modest turnout, it did boast of a tough final table, and a WSOP bracelet owner as the eventual champion.
WSOP Main Event Champ Joe Cada to Appear on Letterman The poker world will receive some late night attention tonight as "The Kid" Joe Cada, the youngest champion in the four decade history of the World Series of Poker Main Event, takes a seat next to embattled talk show host David Letterman.
First Korean Champ of Asia Pacific Poker Tour Crowned in Cebu Another stop on the Asia Pacific Poker Tour is in the books, this time it's the APPT Cebu in the Philippines, and for the very first time a Korean player has come out on top.
Pollack Done as Commish of World Series of Poker Just three days after crowning Joe Cada as the 2009 Main Event champion, officially closing the special 40th anniversary run of the World Series of Poker, Jeffrey Pollack has resigned his post as Commissioner of the WSOP. |
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