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The Technicalities Take a Toll

Now that the Unlawful Internet Gambling Enforcement Act (affecting online casinos and US banks) is in place within the United States, many are wondering when the US Treasury and US Attorney General’s Office will come up with the framing of the bill that puts a stop to online casino gambling. According to regulations, these offices have 270 days (that’s roughly two more months) to come up with the specific of the bill that make it enforceable.

What is currently lacking (and causing much confusion and mayhem in both banks and online casino companies) are the regulations that US banks have to follow in order to fulfill the Act.

Many are just frustrated with this bill by now. Many in the online casino industry did not even see the bill coming. The is in part because of its timing. Senator Bill Frist maneuvered the bill into the Safe Port Act at the last minute. Then the Safe Port Act (which was undoubtedly going to pass) was later signed by President Bush into law, and soon after mayhem at the online casinos and online casino companies ensued. Online casino companies based out of the United States had to quickly close down operations within the U.S., and e-wallets were also forced to hastily close out all US citizen’s accounts.

Another issue that this bill faces is the fact that Attorney General Alberto Gonzales is primarily responsible for coming up with the guidelines for the banks. Currently, the Attorney General has a few other more pressing issues, and he expressed to Senator Kyl through indifference that the regulations for the UIGEA are not his priority. Other issues include many accusations from both parties that Gonzales may not be fit to stay in office because of his dismissal of eight US attorneys.