UIGEA Regulation Implementation to be Delayed (go back »)

Rep. Barney Frank (D-Mass.) is expected to make a statement Friday that U.S. Treasury Secretary Timothy Geithner granted the Poker Players Alliance's petition to delay the compliance date for the Unlawful Internet Gambling Enforcement Act. The six months would be a compromise to the year requested by the PPA and Frank.

Word of the delay comes just days before the December 1 date when banks and financial institutions were to be held responsible for making sure no outgoing transactions were made to web sites related to what was termed as "illegal Internet gambling."

The six-month delay, while not a victory in itself, sets the stage for future victories by giving Frank time to address his other bill, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act.

It remains to be seen how the banks and credit card companies will respond to a delay. The situation likely will remain similar to recent months, where some are blocking transactions and some are not. But the six-month stay should prevent blocking from getting worse.

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