UIGEA regulations finally revealed - Online Bingo News

Following reports yesterday that US government officials had let slip that the long awaited-for regulations backing up the unpopular UIGEA anti-online gambling law were about to be published, US officials have finally released the regulations to the public.

Well past the deadline of 270 days to produce the supporting regulations since President Bush signed UIGEA into law last October, the 52-page document is the latest piece of the UIGEA legislation to fall into place.

UIGEA has already had a devastating effect on the profitability of the international online gaming industry and has seen many online bingo halls and operators of online bingo games effectively shut out of the lucrative US market.

UIGEA seeks to stop financial transactions in the US with online gambling companies, a concept that is now under increasing pressure from pro-online gaming groups to be changed.

iMEGA, a group currently involved in bringing legal action against UIGEA on grounds that it is unconstitutional, has said through its president Edward J. Leyden: "In its ongoing lawsuit in the U.S. District Court for the District of New Jersey, iMEGA has pointed to the unconstitutional, chilling effect that the Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 has already imposed on all of our digital civil rights by stifling beneficial innovation of the Internet and impeding our otherwise content-neutral financial system.

"The proposed regulations jointly promulgated today by the Federal Reserve Board of Governors and the Department of the Treasury would, if anything, aggravate these already intolerable circumstances.”

For people involved in bingo online who are interested in developments to do with UIGEA, details concerning the proposal can be found at: http://www.treas.gov/press/releases/reports/noticeofproposedrule.pdf

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