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July 11, 2007 at 3:32 am #603831AnonymousInactive
UIGEA is not ready!
GamesandCasino’s inside source talks about what they saw here:
July 11, 2007 at 6:16 am #742174AnonymousInactiveThis is great news, hopefully this means that Barney Frank’s bill is picking up steam on a repeal.
July 11, 2007 at 6:37 am #742175AnonymousInactiveThere 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.
July 11, 2007 at 7:34 am #742176DEALERWEB24MemberFrom 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.”
July 11, 2007 at 7:38 am #742177triplecrownMember@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.
July 11, 2007 at 11:01 am #742185vladcizsolMemberThis 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.
July 11, 2007 at 3:53 pm #742204AnonymousInactiveThe 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.
July 11, 2007 at 4:04 pm #742206AnonymousInactiveIt’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.
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