| Posted by: Mousey at June 26, 2008, 2:38 am | | Topic: Barney's Anti-UIGEA bill defeated Forum: Casino Meister | | There are probably more indepth articles out there, but I just don't have the heart to search any further right now. Online gambling bill defeated 25 June 2008 By Vin Narayanan The House Financial Services Committee rejected a bill Wednesday that would have prohibited the Treasury Department and the Federal Reserve from proposing and implementing regulations to enforce the Unlawful Internet Gambling Enforcement Act. In its mark-up session, the Committee adopted an amendment proposed by Rep. Peter King (R-NY) that would not only stop the implementation of any UIGEA regulations, but would also force the Treasury Department, the Justice Department and the Federal Reserve to sit down and define unlawful Internet gambling. King said that this "was a banking issue, not a gambling issue" and that the banking industry shouldn't be in the position of determining what is legal and illegal. The King amendment was defeated by the full committee with a vote of 32 for and 32 against. The original bill proposed by Rep. Barney Frank (D-Mass.) and Rep. Ron Paul (R-Tex.) was defeated in a voice vote. The defeat is a blow to both the online gambling industry, ... |
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