The Congressional hearing see you later awaited for Barney Frank's bill proposing a regulatory structure for Internet casinos and online gambling was postponed. The hearing before the home Financial Services Committee scheduled for Friday, April 16th will now be moved to a later time and date.According to a statement by the committee, Barney Frank, committee chairman, has a conflict forcing an adjustment of the hearing time. No announcement was made as to when the hearing can be rescheduled.
The measure, which sets up licensing, taxation, and oversight of online casinos and Internet poker, was introduced by Frank a year ago. However, the bill has missed several potential dates for advancement, as Congressional attention has enthusiastic about health care and fiscal reform.
Frank faces a deadline of June 1st, as that date marks the looming implementation of the UIGEA. The Treasury granted an appeal by a bipartisan Congressional group asking the UIGEA online gambling ban be held back until Frank's legislation may well be considered.
However, an additional delay in implementation is very unlikely, as Senator Jon Kyl responded to the UIGEA postponement by refusing to approve Treasury job appointments, leaving the dep. to run exceedingly short-staffed. Kyl worked a care for Treasury officials to permit the appointments so long as the UIGEA date isn't moved again.
Published on April 13, 2010 by A.J.Maldonado
Read More... [Source: UIGEA News]
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