PPA Very Happy with UIGEA Extension
Recently the U.S. Department of Treasury and Federal Reserve Board announced that they would extend the compliance day for the Unlawful Internet Gambling Enforcement Act (UIGEA) and the Poker Players Alliance (PPA) were very happy with the decision.
The extension is a victory for online poker and the PPA, which had submitted the petition for the extension. The recent ruling will allow Congress to revise the act letting them clear up the definition of unlawful online gambling in terms of distinguishing it from the game of poker.
Former Senator Alfonse D’Amato, who is now the chairman of the PPA recently stated, “The PPA is extremely pleased with the decision by the Federal Reserve and Treasury to grant the six month extension. This is a great victory for poker, but an even greater victory for advocates of good and fair public policy. These additional months are critical to provide legislators time to clarify UIGEA and pass legislation to license and regulate poker early next year.”
Executive director of the PPA John Pappas stated that he believes the 6 month extension, instead of the year that the PPA has originally wanted, would help poker’s cause, as it would give Congress a sense of urgency in those who want the online poker industry in the U.S. to be legalized and regulated. Pappas said,
“I think it will it will force Congress to act quickly on this rather than drag their heals thinking they can deal with this later because they have a year. Hopefully we’ll have some movement in the House and Senate. If there’s good progress being shown, we’re hopeful we would be granted another delay.”
Internet poker main advocate in Congress is Representative Barney Frank and he helped get the extension and he also scheduled a House Financial Services Committee hearing to discuss various bills dealing with online poker such as the Reasonable Prudence in Regulation Act and the Internet Gambling Regulation, Consumer Protection, and Enforcement Act. Frank recently stated, “This will give us a chance to act in an unhurried manner on my legislation to undo this regulatory excess by the Bush administration and to undo this ill-advised law,” Frank said in a statement.
The PPA and the National Thoroughbred Racing Association and the American Greyhound Track Operators Association filed a joint petition for the extension back on September 18th of this year. In the Treasury Department and Federal Reserve Board ruling on the matter they said they had received letters of support for the extension by financial institutions, associations that represent financial institutions, and members of Congress.
In the past few years Internet poker had been vilified in Congress, but it seems that the tide is turning, as many experts believe it is just a matter of time before online poker is a legal and regulated industry in the U.S.
Pappas stated, “I think we’ve had a lot of smaller victories that led to a change in how Congress views our issue, but I think this might be our biggest single, changing moment. This really puts it squarely on the shoulders of Congress to do something during this period of delay, and we’re hoping we can get some quick action. That’s why I think the timing of Frank’s hearing next week couldn’t be better.”
