Frank will be pushes for UIGEA repeal
As stated by Reuters: “A chief Democratic legislator expressed on Thursday, he would urge to approve rulings to annul a three-year-old U.S. prohibition on online gambling that has pained commerce with European Union.
“‘I’m going to be pushing it,’ House of Representatives Financial Services Committee Chairman Barney Frank related to reporters at a journalists meeting to set in place his agenda for amending U.S. financial regulation.
“Work on drawing the law should be accomplished this month, a House assistant expressed.
“Congress endeavored in 2006 to void online gambling in the United States by blackballing businesses from consciously receiving deposits in association with unlawful Internet gambling, comprising of payments made through credit cards, electronic fund transfers and checks.
“European online corporations lost billions in marketplace value after the Unlawful Internet Gambling Enforcement Act became law, and they pulled back from the U.S. market…”
