Online Poker Still a Hot Topic in American Legislature
Todd | September 18, 2008
Barney Frank, the reigning congressional hero for online poker in America, is once again tackling the issues caused by the poorly worded UIGEA (Unlawful Internet Gambling Enforcement Act). His goal is to make the American business environment more accepting and viable for online poker and online gaming. The bill aims to clearly define which types of online gaming transactions are unlawful for American financial institutions to support.
The Federal Reserve System and the Department of the Treasury have both admitted that the UIGEA is confusing and difficult for financial institutions to follow properly. Frank’s bill seeks to bring much-needed clarification to this daunting legislation, which not only makes most forms of online gaming in America illegal but also creates an ambiguous online gaming environment in the United States.
Barney Frank’s efforts to clarify online poker legislation in America
A significant facet of Frank’s bill is the requirement for an administrative law judge to define precisely what constitutes unlawful internet gambling. Additionally, the bill calls for a report on the economic impact and consequences on American financial institutions. This effort is similar to a previous attempt by Frank to clarify the UIGEA, which failed to advance from his committee debating the issue.
By addressing these ambiguities, Frank hopes to create a clearer and more favorable environment for online gaming in the United States, benefiting both players and financial institutions.
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