Support for Senator Barney Frank’s pending U.S. gambling legislation has been snowballing over the last year, with new sponsors being added every month. With only days left until the UIGEA regulations were to be implemented, the online gambling world has been holding its breath to see if the new legislation will pass in time to cancel out impending UIGEA bans. Late last week pro-gambling groups got their first glimmer of hope.
First, the House Financial Services Committee announced their December agenda, which includes a committee hearing for Frank’s two House Resolutions—2266 and 2267—on December 3. Second, to give Frank a chance to plead his case and to give the already beleaguered U.S. banks some breathing room, the Federal Reserve and Treasury Department have agreed to delay implementation of the new UIGEA laws by another six months, which should prevent anymore immediate gambling-related funds seizures.
Many online gambling advocates believe that these two decisions stand as proof that the tide is turning when it comes to the U.S. Government’s stance on online gambling and that legalization and regulation may finally be near.
