Monthly Archives: December 2009

Rep. Barney Frank and the Obama Administration delay ban on Internet gambling

It has long been reported that Rep. Barney Frank (D) believes that internet gambling should be legalized. He even went on to claim that the freedom to gamble online should outweigh the dangers posed to children. However, the Unlawful Internet Gambling Enforment Act bans online gambling and was recently upheld by the US Court of Appeals.  Even still, politicians tend to find ways to bend the rules when they have control over Congress.  The enforcement of UIGEA comes from monitoring the financial transaction of online gamblers.  The Kansas City Stare is reporting that the Obama Administration, led by Rep. Barney Frank, is now delaying the requirement needed to enforce UIGEA by another six months:

The Treasury Department and the Federal Reserve are giving U.S. financial institutions an additional six months to comply with regulations designed to ban Internet gambling.

The two agencies said Friday that the new rules, which were to take effect on Dec. 1, would be delayed until June 1.

The rules would curb online gambling by prohibiting financial institutions from accepting payments from credit cards, checks or electronic fund transfers to settle online wagers.

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