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Online Blackjack News - UIGEA Guidelines Codified
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However, as it seems now, banks and other financial institutions will not be required to implement these rules, because of the mandatory government protocol that allows public feedback. Beginning yesterday, the American Government is accepting public comment about the rules that the Treasury Department, the Reserve Board and the Board of Governors want to implement as part of the UIGEA. The deadline to submit is Dec. 12 After Dec. 12, government employees will take about 180 days to read the comments. They’re also supposed to revise the rules according to public sentiment. The UIGEA will go into effect after this period.
The UIGEA was passed last year as an addendum to the Safe Port Act designed to strengthen America’s ports. It’s aim is to wipe out all forms of internet gambling, poker and wagering by making it illegal for banks to process financial transactions between Americans and offshore online casinos. These rules were slated to be release during the summer, 180 after the bill was passed.
The UIGEA is facing challenges both politically and legally. Congressman Barney Frank has a bill in committee that would kill the UIGEA, and the Interactive Media Entertainment & Gaming Association (iMEGA) is in the beginning stages of petitioning the courts to declare the UIGEA unconstitutional. A judge will rule on a temporary restraining order (TRO) request made by iMEGA attorneys later this month.
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| Source:
Blackjack2002 News Staff
| Thursday, 4 October 2007 |
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