The Congressional hearing so long awaited for Barney Frank's bill proposing a regulatory structure for Internet casinos and online gambling has been postponed. The hearing before the House Financial Services Committee scheduled for Friday, April 16th will now be moved to a later time and date.According to a press release by the committee, Barney Frank, committee chairman, has a conflict forcing an adjustment of the hearing time. No announcement has been made as to when the hearing will 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 focused on health care and financial 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 could be considered.
However, a further delay in implementation is highly unlikely, as Senator Jon Kyl responded to the UIGEA postponement by refusing to approve Treasury job appointments, leaving the department to run exceedingly short-staffed. Kyl worked a deal with Treasury officials to allow the appointments as long as the UIGEA date is not moved again.
Published on April 13, 2010 by A.J.Maldonado
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