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Online Casino Ban Delay Being Considered by Treasury
"Newsweek" quoted an unnamed source in the Federal Reserve as saying nodecision had been made regarding delaying the implementation of the UIGEA online casino ban December 1st.
A flurry of letters have implored action, or the lack of it, by the US Department of the Treasury and the Federal Reserve in the matter of the implementation of the UIGEA online casino ban. Letters from nineteen Congressmen and from the representatives of the Poker Players Alliance, the American Greyhound Track Operators Association and the National Thoroughbred Racing Association ask the authorities to delay the December 1st date, while a letter from Senator Jon Kyl and Representative Spencer Bachus insist the plan proceed as scheduled.
According to "Newsweek," a source inside the Fed has said the matter is still up in the air, with no decision yet made. Indecision would seem to lead to at least a short-term postponement while the arguments are carefully examined, essentially the point of the nineteen Representatives asking for time.
The online casino ban has demonstrated to have flaws and side effects unforeseen, at least by its supporters. The horse and dog racing groups joined the others requesting delay of the Internet gambling block because, despite specific writing in the law, their sports have found payment and credit companies unwilling to take chances on any gambling transactions.
The problematic and dysfunctional nature of the Internet casino ban has been apparent since the act was snuck through Congress as a last-second addition to a Homeland Security bill. State lotteries in New Hampshire and North Dakota have had online payment systems blocked as illegal gambling, even though they are clearly legal, and excused by the UIGEA itself.
Forcing banks and credit card companies to satisfactorily define amorphous terms like illegal gambling has caused trouble already, and financial institutions insist it will only get worse. Even though Treasury officials are clearly reluctant to interfere with legislated processes, the mess being caused by the UIGEA may lead to a last-minute reprieve for online gambling patrons.
"Newsweek" quoted an unnamed source in the Federal Reserve as saying nodecision had been made regarding delaying the implementation of the UIGEA online casino ban December 1st.
According to "Newsweek," a source inside the Fed has said the matter is still up in the air, with no decision yet made. Indecision would seem to lead to at least a short-term postponement while the arguments are carefully examined, essentially the point of the nineteen Representatives asking for time.
The online casino ban has demonstrated to have flaws and side effects unforeseen, at least by its supporters. The horse and dog racing groups joined the others requesting delay of the Internet gambling block because, despite specific writing in the law, their sports have found payment and credit companies unwilling to take chances on any gambling transactions.
The problematic and dysfunctional nature of the Internet casino ban has been apparent since the act was snuck through Congress as a last-second addition to a Homeland Security bill. State lotteries in New Hampshire and North Dakota have had online payment systems blocked as illegal gambling, even though they are clearly legal, and excused by the UIGEA itself.
Forcing banks and credit card companies to satisfactorily define amorphous terms like illegal gambling has caused trouble already, and financial institutions insist it will only get worse. Even though Treasury officials are clearly reluctant to interfere with legislated processes, the mess being caused by the UIGEA may lead to a last-minute reprieve for online gambling patrons.
