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Internet Casino Prohibition Delayed
WASHINGTON, D.C. --
Online gambling sites are reporting that sources near the top of the country's financial industry say the decision to extend the delay until implementation of the UIGEA rules against processing payments to Internet casinos has been made. With a December 1st deadline looming, Treasury Secretary Timothy Geithner will announce either Monday or Friday that six more months will be granted payment handlers to prepare for the law against Internet casino payments.
The extra time will also allow Congress to address the UIGEA, and decide whether the law is causing far more trouble than it's preventing. So far, overblocking by cautious credit card companies has resulted in denied payments to state lotteries and for online horse race gambling, both of which represent commerce and revenue to states.
Two separate letters to Geithner and Fed head Ben Bernanke by an assortment of US Representatives asked that the law receive further delay while proposals to limit or repeal it are discussed. The second, featuring the entire contingent of Kentucky Congressmen, may have been the straw that broke the Treasury's will to proceed.
Previous complaints had been received from the Poker Players Association, the Interactive Media Entertainment and Gaming Association, numerous financial stalwarts, free Internet campaigners, and civil libertarian groups.
Legislation by Barney Frank that would regulate Internet casinos and make the UIGEA moot is due for discussion before the Financial Services Committee next week.
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Recent Comments
| Posted by dewey fischer on 11/26/2009 10:53:38 AM EST |
I argument that gambling is illegal, immoral (al la Bushies,)--et naueaum,
is rediculous The "GOV" loves and supports,Lotteries, INSURANCE-Baby, life, car, fire, etc etc etc. PLUS NYSE, ASE, FUTURES, FUNDS, ETC.
Let the PEOPLE decide what they wish to do.!! |
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