The effective date for banking regulations set to go into effect on the 1st of December 2009 was just postponed six months to the 1st of June 2010. Certainly some good news for those involved in iGaming.
Just one to many things for the banking system to worry about right now. Plus all six Congressmen from the state of Kentucky sent a letter to the US Treasury and Federal Reserve requesting a delay. Kentucky horse racing interests have traditionally strongly opposed online gaming. But with their race betting transactions in jeopardy suddenly they were allies with online gambling interests. What a surprise.
For more information on the delay you can view the formal announcement of the delay here: www.apcw.org/legal-documents/uigea_delayed.pdf and our article about the delay here: www.gpwa.org/article/obama-administration-delays-uigea-implementation-191696.
So, the obvious question is will the regulations really to into effect on the 1st of June? Or is the fact that they have been delayed an indication that they will probably be delayed again or will perhaps never actually go into effect at all?
Share your views about how likely they are to go into effect on June 1st and your reasoning.