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The waiting continues, but if his own word is any
sign of a light at the end of a tunnel, Barney Frank is closer than ever
to finally introducing legislature that will overturn the Unlawful
Internet Gambling Enforcement Act and regulating online casinos. Last
week, Barney Frank gave us nothing more than a tease by mentioning
online casinos in passing when discussing rights that he feels all
Americans should have.
This time around the Chairman of the House of
Representatives House Financial Services Committee was asked point blank
about his intentions to introduce legislation that will repeal the
Unlawful Internet Gambling Enforcement Act and his response was very
exciting.
“We'll be introducing it next week and I plan to
move on it,” answered Frank when he was asked about online casinos at
the Reuters Global Financial Regulation Summit. Things may be changing
very soon for the online gambling industry in the United States.
Now is the time if there ever was one to repeal the
Unlawful Internet Gambling Enforcement Act, a law that has saddled the
American financial institution with the added burden of enforcing a law
that has proven, time and again, to be virtually unenforceable. At the
moment the financial system is on the edge of ruin and needs to focus on
more important issues as they go forward.
Another reason to strike the Unlawful Internet
Gambling Enforcement Act from the book is to please our trade allies,
especially in Europe. A major portion of the western world has embraced
online casinos and regulated the market. The European Union and the
World Trade Organization has expressed repeated disappointment with
America’s protectionist policy toward online casinos.
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