Online Poker

Bill targeting UIGEA will be Amended Today

by AintLuck.com Poker Team

US Representatives Barney Frank and Ron Paul are scheduled to amend HR 5767, a bill sponsored by both men which basically would prohibit the Treasury Department from proposing, prescribing, or implementing any regulation that deals with the Unlawful Internet Gambling Enforcement Act (UIGEA). No information has been released to the extent of what will be amended.

What is H.R. 5767?

Internet Poker companies have their eye on this bill as the UIGEA made it illegal for any financial institution to transfer funds to an Internet Poker site. As a result, many of the large publicly traded poker companies like Party Poker, stopped accepting US poker players in fear that they would be somehow prosecuted with the new law. It is uncertain whether the law would apply to Internet gambling companies as the literature seems to aim the burden on the financial institutions and not the poker companies.

HR 5767 would basically prohibit the Treasury from setting any firm regulations on the financial institutions based on the UIGEA. The financial institutions have been waiting since the UIGEA passed (2006), for clear instructions on what type of transactions they need to prohibit and guidelines for doing so. HR 5767 would strip the government from even developing those guidelines for the financial institutions.

Status of HR 5767

This bill is in the first step of the legislative process and is being debated until it can go to the general debate. The co-sponsors of the bill in addition to Ron Paul and Barney Frank are:

Rep. Gary Ackerman [D-NY]
Rep. Joe Baca [D-CA]
Rep. Shelley Berkley [D-NV]
Rep. Michael Capuano [D-MA]
Rep. Russ Carnahan [D-MO]
Rep. William Clay [D-MO]
Rep. Steve Cohen [D-TN]
Rep. Bob Filner [D-CA]
Rep. Charles Gonzalez [D-TX]
Rep. Luis Gutiérrez [D-IL]
Rep. Michael Honda [D-CA]
Rep. Peter King [R-NY]
Rep. James McGovern [D-MA]
Rep. James Moran [D-VA]
Rep. Ed Perlmutter [D-CO]
Rep. Steven Rothman [D-NJ]
Rep. Robert Wexler [D-FL]

 

How you can support H.R. 5767

The House Financial Services Committee is going through the process to review this bill. As a US Citizen, you have the power to call the House Financial Services Committee and express your opinion on this bill. You can call and show your support of HR5767:

Democrats’ Committee Office:* Ph: (202) 225-4247 - FAX: (202) 225-6952
Republicans’ Committee Office:* Ph: (202) 225-7502 - FAX: (202) 226-4301

You can also Email to support HR5767: House Financial Services Committee Email

    blog comments powered by Disqus