June 11, 2009 (CAP Newswire) – Barney Frank’s Payments System Protection Act (H.R. 6870) has taken its first step towards passage, passing the House Committee on Financial Services this week and now moving on to a full House vote.

Not to be confused with Barney Frank’s primary online gambling bill (the Internet Gambling Regulation, Consumer Protection, and Enforcement Act), this smaller-scope bill seeks to delay implementation of the UIGEA until online gambling can be legalized. Therefore it’s a bit easier of a sell, and the goal is to push it through Congress more quickly than the other bill.   

The full House vote could come as quickly as next week, reports InformationWeek.

"Congressman Barney Frank was able to introduce the bill last Thursday and have it marked up and ready to be discussed on the House floor five days later," Jay Lakin, co-owner and VP of PokerSourceOnline.com, told InformationWeek. "It shows his true passion for this issue and steadfast belief that the federal government should not be determining what consenting adults do in their leisure time."

This legislation seeks the appointment of a special administrative judge to specifically define what unlawful Internet gambling is and then oversee a study analyzing the costs of UIGEA’s implementation.

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