UIGEA Compliance Deadline Approaching

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The deadline to fall into full compliance with the regulations of the Unlawful Internet Enforcement Act (UIGEA) is December 1st for all companies in the financial services industry.

In the meantime, the Poker Players Alliance is working hard on delaying the deadline. Bill HR 2266 was introduced by Congressman Barney Frank in May of this year and this piece of legislation aims to push back the compliance date to December 1st of 2010.  The bill suggests that lawmakers on Capitol Hill could find a method for taxing and regulating the internet gambling activities in the US.

The bill was successful with 48 cosponsors. “We are working with Barney Frank and others for a non-legislative solution to clarifying or delaying the UIGEA regulations. Given everything on the Chairman’s plate, one thing off of it is a good thing. We’re hoping to see a delay.”

The PPA ahs also gathered efforts to use the Administrative Procedure Act which allows individuals and organizations to weigh in with the Department of Treasury and ask for a delay of a proposed rule. It has been hard though as poker is probably, and reasonably, not the main concern of the US government administration at the moment.  “The reality is that our country is facing a lot of challenges. From a poker player’s perspective, the UIGEA may be the top priority, but it’s not the top priority of Congress. Until Barney Frank can solve the issues facing his Committee, ours is not going to take precedence.”

Barney Frank also introduced HR 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act. It attracted 60 cosponsors and it wasintroduced on the same day as HR 2266 and establishes a complete licensing and regulatory framework for the internet gambling industry in the United States. Hopefully we will see some results soon as the deadline is approaching.