New UIGEA Developments March 2010

Healthcare Reform wasn't the only thing Republicans were trying to block. It seems that Senator Kyl from Arizona has been working overtime to ensure that the UIGEA would absolutely go into effect on June 1. In a stunning revelation, it was reported that Senator Kyl was holding up approval hearings of key US Treasury appointments in an effort to force the Treasury Secretary to cease postponement of the UIGEA regulations.

Unfortunately Kyl's tactics worked, and the UIGEA regulations will go into effect on June 1. When asked about this development, Barney Frank who has been gathering support to repeal the UIGEA Law, said that he is not all that concerned because once this ambiguous law goes into effect, it will help, not hinder, its eventual eradication because banks will complain en force about its effectiveness. Congressman Frank's bill will go to mark-up in the near future.

Will it prevent Americans from playing at online casinos? We can hardly believe that. The fact is after June 1, 2010 US players are still enjoy playing and it looks like US online gambling is here to stay.