Internet Casino Gambling Bill Delayed In Congress

The first Congressional hearing with regard to Barney Frank’s bill to regulate the
online gambling industry was scheduled for today but it has now been postponed.
Barney Frank has a conflict with the date of Friday, April 16th and that is why
the legislative hearing in front of the House Finance Committee has been postponed.

Congress has been busy with health care reform, the financial crisis and other
issues in recent months. This has led to numerous delays for Frank’s bill.
The UIGEA is scheduled to be fully implemented on June 1st, which leaves only
6 weeks to pass this new legislation that would effectively cancel the UIGEA.

The implementation of the UIGEA was delayed for 6 months due to the pending
legislation in Congress, but it is unlikely that the US Treasury Department
will delay the legislation for a second time. Without a delay, the UIGEA
will be implemented and banks will soon be responsible for restricting
all gambling transactions that are made using financial instruments
within the United States. Their was hope in the online gambling industry
that Barney Frank’s legislation would be signed into law before the
UIGEA is implemented, but it now looks like the American people will
be forced to deal with the UIGEA before online gambling is deemed legal.