Frank Brings Separate Bill to Prevent UIGEA Online Casino Ban
The big news that Barney Frank introduced his bill to regulate online gambling this morning obscured Frank's authoring a second bill, in hand with the first. The purpose of the second bill is to prevent implementation of the UIGEA ban against online casino payment transactions.
Frank's gambling licensing act specifically exempts licensed Internet gambling sites from any UIGEA penalties. The bill says, "No financial transaction provider shall be held liable for engaging in financial activities and transactions for or on behalf of a licensee or involving a licensee, including payments processing activities."
But exemptions have not been sufficient to protect state lotteries in New Hampshire and North Dakota from being denied payments by worried credit providers. To prevent such occurrences, Frank also brought forth the Reasonable Prudence in Regulation Act.
The finalization of UIGEA rules under the midnight regulations of the Bush administration allowed financial institutions until December 1st, 2009, to face mandatory enforcement. Frank's bill extends that period for another year, to the 1st of December, 2010.
Gaming observers note that Frank is allowing time for Congress to withdraw UIGEA rules in favor of his regulations regarding licensing of Internet gambling. The second, smaller bill is issued to help the first one to work more smoothly, with less potential conflict from the UIGEA until Congress has time to coordinate laws.
Recent Comments
| Posted by: Ricky Simon | When: 05/26/2009 11:00:36 PM EST |
| Hello Webmaster We are from SubmitShop Chandigarh. Our main SEO site is http://www.submitshop.com. I've visited your website and it appears that the content on your site is exceptional and I believe your visitors and our visitors have similar demographics and interests. As you know back links helps to achieve high search engine rankings & generating more traffic to our Sites as well.We have a good quality network of sites and wanted to reach out to you to see if we can connect and discuss three way link partnership possibilities.We are looking for some related web sites like your website for exchange links with us. We are now looking for potential partners to exchange links with, the goal is to improve rankings on Google and other search engines for both sides. I will add your link at: http://www.aboutgambling.org http://aboutsportsbetting.net/ http://www.live-sports.org/ http://bettingbook.info/ http://8casino.org/ http://www.2sports.info http://www.sport-world.org/sports/ http://gameszilla.org/billiards.html http://on-line-gambling.net/ http://gamblinglive.co.uk/ http://www.shoppingz.info/entertainment.html http://www.chandigarhshop.com/entertainment.html http://www.himalyan.in/entertainment.php http://www.himalyan.co.in/entertainment.html http://indiabook.info/entertiament.html http://indiabook.in/info/entertainment.html http://www.webinformation.org/entertainment.php http://www.onlineaustralia.org/entertainment.html http://megri.info/entertainment.html http://germanyworld.net/entertainment.html http://www.casinoshop.org http://sports-online.biz/ http://indiabook.in/info/games.html http://www.linkdirectory.biz/Gambling/ http://www.talkingcity.org/Casino_And_Gambling.html http://www.ilinkexchange.com/Recreation/ http://www.hotdak.net/email_directory/Casino_And_Gambling.html http://www.ipunjab.com/directory/Sports/Adventure_Sports/index.html You've received this email simply because you have been found while searching for related sites in Google, MSN and Yahoo If you do not wish to receive future emails, simply reply with this email and let me know. I look forward to hearing from you a positive response for link exchange! Sincerely, Ricky Simon | |




