Great poker news for USA players is that the Bush administrations UIGEA (Unlawful Internet Gambling Enforcement Act) which was set to be enforced from 1st December 2009 is expected to be pushed back by a further six months until 1st June 2010.
Rep. Barney Frank (D-Mass.) is expected announce tomorrow (Friday) or at the latest Monday, that the U.S. Treasury Secretary Timothy Geithner has agreed to delay the compliance date as set out by the Poker Players Alliance’s petition which aimed for a full years grace to be given a comprise was reached and a rumoured 6 month extension granted.
Under the UIGEA, banks and credit card processors are held responsible for ensuring that no “illegal” Internet gambling money transfers occur, which would severely dent the USA poker market as no Americans would be able to play for real money, if the law was enforced. It would also prove difficult to cash out their winnings.
The UIGEA was passed into law in 2006 after being attached to an unrelated port security measure by then, Senate Majority Leader Bill Frist (R-TN), the SAFE Port Act was passed by unanimous consent at the time.
Congressman Barney Frank is adamant about regulating the poker and online gambling industry and hopes to create a licensing and regulatory framework that would earn millions of needed revenue for the United he has proposed the HR 2267 bill which currently has 63 co-sponsors.
It is further rumoured that an additional delay is possible should passing of the HR 2267 bill not be ready by then.