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Frank Presents IGREA

The longer that the United States continues to operate under the highly controversial 2006 Unlawful Internet Gambling Enforcement Act (UIGEA) the more issues arise concerning the Act’s implementation, disruption to foreign trade agreements, and domestic online casinos gambling industry. In the past several months alone the U.S. government has allocated precious time and resources dealing with the problems that the UIGEA has created on a global scale. Congressman Barney Frank (D-MA) has long-supported the internet gambling industry and has proposed a new, UIGEA-neutralizing that would rather license and regulate the online casinos gambling industry.

Congressman Frank’s bill has gained a significant amount of support over the past year, and the Congressman has taken the current online casinos gambling related issues as a prime opportunity to further push his newly proposed Internet Gambling Regulation and Enforcement Act (IGREA). For the past several months the U.S. banking industry and various interest groups have spoken strongly that the regulations that the government proposed to support and enforce the UIGEA are unreasonable and place undue burden on the U.S. financial industry.

To further stress the fact the online casinos gambling related issue can not be easily fixed without a new approach to the industry, Congressman Frank will speak on the issue at an upcoming hearing in April. The hearing will take place on April 2, 2008 in Washington, DC and will highlight all of the international controversy surrounding the U.S. online gambling ban – and stress that regulation and licensing in the industry would largely bring these issues into harmony and eliminate the need for millions of dollars in trade compensations with affected countries like the EU and the Antigua.