Rep. Barney Frank’s hard work is about to pay off. His online gambling bills, the Reasonable Prudence in Regulation Act (HR2266) and Internet Gambling Regulation, Consumer Protection and Enforcement Act (HR 2267), are to be heard by the House Committee on Financial Services on April 16.
With the provisions of UIGEA set to be enforced starting June 1st, and no more extensions expected, it is a bit of good news for online gambling. The hearings will focus on, among other things, the problems banks will be facing trying to implement the provisions of UIGEA.
Michael Waxman, spokesperson of the Safe and Secure Internet Gambling Initiative, stated: “This hearing will provide further evidence that UIGEA is a poorly-crafted law that simply does not work”. He goes on to say that a more common sense method of protecting the American people is needed.
Among the many provisions of the bills, are ones to further delay the implementation of UIGEA, and to create a regulatory framework for online gambling to work within, subject to government oversight. The Consumer Protection and Enforcement Act also allows the individual states to decide for themselves whether to allow online gambling within their borders or not.
Coincidentally, next week is the Washington DC Ante Up For Africa charity tournament, being held in the capitol on April 14th. Joining the many professional poker players will be Senator Robert Menendez (D-NJ) and Rep. Jim McDermott (D-WA).