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Bill to Halt Online Casinos Ban Regulations

The United States is in the middle of a heated debate in country regarding online casinos gambling. On the one hand is some of the religious right pushing to keep the current UIGEA and pass through the need regulations which would give the UIGEA the teeth of enforceability. On the other side are politicians like Congressman Barney Frank and others who see the UIGEA as largely invasive of the personal liberties of Americans and as protectionist legislation causing international problems with trade agreements. At this point the online casinos gambling proponents seem to be winning out on the debate, and Congressman Frank has just filed bill HR 5767 which would prohibit the formation and implementation of regulations related to the UIGEA.

Congressman Frank is perhaps the foremost supportive politician for licensing and regulation of the U.S. online casinos gambling industry. Frank is actually most known for his bill, the Internet Gambling Regulation and Enforcement Act (IGREA) which seeks to fully neutralize the UIGEA. At this point though the IGREA legislation is taking a backseat to HR 5767 as online casino gambling proponents see stopping the formation and implementation of regulations as a first important step in fully reversing the UIGEA.

Congressman Frank released a statement accompanying HR 5767 and he did not have very positive comments regarding the Treasury Department and Federal Reserve’s attempts to draft regulations in support of the flawed UIGEA. Frank comments, "Given the many other priorities that are pending at your agencies...we believe it would be imprudent for you to devote additional agency resources to this Sisyphean task.” And there is certainly truth behind Frank’s comments, many have weighed in on the ability to draft regulations in support of the UIGEA, and most in the online casinos gambling and banking industries agree that enforcement of the UIGEA is next to impossible.