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UIGEA is not ready!

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  • #603831
    Anonymous
    Inactive

    UIGEA is not ready!

    GamesandCasino’s inside source talks about what they saw here:

    http://www.gamesandcasino.com/gambling-news/

    #742174
    Anonymous
    Inactive

    This is great news, hopefully this means that Barney Frank’s bill is picking up steam on a repeal.

    #742175
    Anonymous
    Inactive

    There was never any hope that the Treasury would get the provisions of the UIGEA ready in 270 days. With practically every financial institution against the concept, the only way this could have been done was to alienate the entire banking system.

    That being said, I don’t think any of the operators who bid goodbye are planning to come back any time soon.

    #742176
    DEALERWEB24
    Member

    From gambling911

    “Steve Laughton told CompatiblePoker.com that the regulations are not yet ready to be published. Today happens to be the end of the 270 day allotted time period. Instead they expect to see regulations issued sometime later this month. Steve Laughton was the email contact listed at the Reginfo.gov for the UIGEA updates.”

    #742177
    triplecrown
    Member

    @Spearmaster 130804 wrote:

    There was never any hope that the Treasury would get the provisions of the UIGEA ready in 270 days. With practically every financial institution against the concept, the only way this could have been done was to alienate the entire banking system.

    That being said, I don’t think any of the operators who bid goodbye are planning to come back any time soon.

    I agree. I didn’t think they could get a serious piece of legislation in unchartered territory in 270 days. I suspected they would extend the deadline indefinetely until they finally do have political resolve. It was a “warning” or a “scare” tactic.

    There’s hope.. A new more liberal political government will be in place the next election. Let’s see how the programs respond.

    #742185
    vladcizsol
    Member

    This was what I suggested in a few previous threads. An extension would be required to complete the new regulations. Even after that phase of UIGEA is complete their will be a further grace period for financial institutions to adopt the new guidelines.

    #742204
    Anonymous
    Inactive

    The title of this post is very misleading.

    UIGEA ia actually ready, and it has been for 270 days now. The bill became law as soon as the President signed it.

    The 270 days were about how would the financial institutions go about obeying this law.

    It is still illegal to run/process transactions for online gambling business in the USA, and it has been for the past 270 days.

    #742206
    Anonymous
    Inactive

    It’s not ready to be properly enforced, no one can agree on the guidelines.

    Unless they agree on something this month, my guess is that it will end up as one of the many unenforceable or capriciously enforced laws we have.

    It has been capriciously enforced before it even existed, as in the Paypal case and Credit Card cases several years back.

Viewing 8 posts - 1 through 8 (of 8 total)