On Friday the US Treasury Department made a decision to delay the implementation of the Unlawful Internet Gambling Enforcement Act that was due to go in to effect on December 1, 2009. This new delay that has pushed the implementation of UIGEA Regulations back to June 1 2010 is a great relief for online casino patrons who were concerned about how they were going to receive their winnings had the Rules been enforced.
This also helps online casino’s that had been concerned about their ability to continue operations in the US market once the rules were enforced. Now, all eyes are on Representative Barney Frank, hoping that now he has enough time to overturn the UIGEA Regulations with the help of other lawmakers.
On Friday Barney Frank made a statement saying “The Department of the Treasury and the Federal Reserve Board of Governor’s deserve a great deal of credit for suspending these midnight regulations promulgated by the Bush Administration which would curtail the freedom of Americans to use the Internet as they choose and which would pose unrealistic burdens on the entire financial community,”
Rep. Barney Frank made no secret of approval of the decision on Friday by the Treasury Department. He also spoke freely of a time when Internet gambling will be regulated in the US. “This will give us a chance to act in an unhurried manner on my legislation to undo this regulatory excess by the Bush Administration and to undo this ill-advised law.”