STATEMENT FROM FIREPAY

07 October 2006

Position by FirePay Remains Steadfast
FirePay is holding steady in its position concerning the Unlawful Internet Gambling Enforcement Act, which will become law upon its approval by the President of the United States.

The following is an official statement recently released by FirePay:

“The Act does not define ‘unlawful Internet gambling’ nor does it make unlawful any activities by financial institutions that are not themselves gambling businesses.

“The Act directs the United States Federal Reserve and the Department of the Treasury to develop regulations that would direct financial institutions to identify and block certain types of financial transactions connected with unlawful Internet gambling.

“The enactment of the Act will have a significant negative impact on the business and results of operations of FirePay.

“FirePay’s Board is evaluating the situation and will provide an update when appropriate.”

Related News

  • 21 August 2007

    Short Extension Granted to USA in Online Gambling Case

    According to our reliable sources, they tell us: In the US District Court of New Jersey, Trenton Division, papers were filed today to grant a motion on behalf of the US Department of Justice and the co-defendants, giving them a short period longer to respond to charges brought against them by the Interactive Media Entertainment and Gaming Association (iMEGA).

    Read full article
  • 31 August 2007

    NEW Date Set for iMEGA versus Gonzales (UIGEA)

    NEW Date Set for iMEGA versus Gonzales (UIGEA)Honorable Judge Mary L. cooper will hear oral arguments on TRO and Government dismissal motions.The hearing originally set for September 4th, has been moved to September 26th, in the U.S. District Court of New Jersey, Trenton Division.  The hearing date was a mutual agreement by the plaintiff whom is iMEGA and the defendants, who are, Gonzales, the U.S. Department of Justice, the Federal Trade Commission and the Federal Reserve Board of Governors.

    Read full article
  • 17 July 2006

    INTERNET GAMBLING BAN A BAD BET

    Cincinnati.Com The Enquirer Editorials The U.S. House feels Americans need to be saved from a $12 billion-a-year growth industry – Internet gambling. By a lopsided 317-93 vote, members passed the Unlawful Internet Gambling Enforcement Act on Tuesday, but exempted state-run lotteries and online horse-race betting. Were the Senate to go along with it, the bill would make online sports betting, poker and other popular Internet casino games illegal.

    Read full article