Update: UIGEA and Barney Frank Legislation

[cameronlove4]

Hi Everybody,


Here's an update on UIGEA and the discussion on Barney Frank's Legislation related to online gambling:


On 3rd of December 2009, Representatives of the US Congress discussed on the Legislations put forward by Barney Frank. This legislation is put forward at a time when the implementation of UIGEA has been delayed by 6 months. It was earlier decided that this Act – Unlawful Internet Gambling Act – would be implemented from the beginning of December 2009. But freedom loving people of USA objected on this Draconian law. That's why Federal Reserve and Department of US Treasury took a decision of going slow on the issue and implement it from 1st June 2010. This lagged time will help the US Congress to discuss the online gambling issue along with the legislations brought by Barney Frank.


This was the first meeting of the representatives and was held on 3rd Dec'09 at 10AM (EST) sharp.

Issues of the Legislation Discussed

• This legislation of Barney Frank will seek to allow the licensed online gambling operators to accept wagers from American people.
• Legislation brought by Barney will allow the states of America to decide whether they will allow gambling online in their state.

The joint committee has also estimated that a total sum of USD 42 billion will be generated over a period of 10 years, if the legislation is implemented.


More Details on the Legislation

This hearing included testimony from the learned leaders on the subject of consumer safety and online security. Here the experts of consumer safety as well as online security will describe the success of restricting minors from gambling online by using latest technologies and systems. The experts also pointed out their success in protecting consumers from monetary fraud, laundering of money and theft of identity.


Spokesperson of “Safe and Secure Internet Gambling Initiative”, Michael Waxman, has pointed out the fact that the hearing on the legislation, brought by Barney Frank, will help customers of online casinos to get a more secured and safe online environment. In this hearing, the licensed online portal operators would be required to implement already-proven technologies for protecting their customers. There are some outstanding questions regarding online gambling and the related operations. All these questions will be answered in the hearing of 3rd December 2009 and will consequently make the road smooth for a voting on Barney Frank's legislation.

Backdrop of Discussion

This current discussion will be held on the backdrop of the recent decision of Dept. of Treasury and Federal Reserve on delaying the implementation of UIGEA on 1st Dec'09 by 6 months. Barney has also reacted positively on this delay by saying that the delay of implementing UIGEA will help in further discussion on his legislation on online gambling. This will consequently help in getting rid off of the regulatory excesses imposed through UIGEA.


What are your comments on this issue friends? Can the freedom loving people of America come up together and fight for their rights on Internet Freedom?


Rick (universal4) and Keith (ironman2000) – What are your thoughts on this?


Regards,
Cameron

[cameronlove4]

Barney Frank Regulatory Reform legislation Discussion Update

Reps of US congress on 3rd December 2009. On the very first day, the director of WiredSafety, the organization overseeing and protecting online users from fraud, unwanted child exposure to inappropriate sites, cyber harassment etc. testified before the House Financial Services Committee. He clearly pointed out that the present approach of the US law of banning online gambling, in toto, is leaving the online gamers unprotected. In place, a regulation on online gambling is a much coveted one.

Ban or Regulation – What did Parry Aftab Say?

Parry Aftab, the WiredSafety Director, has shown the House Financial Services Committee that online gambling ban has no effect on the attitude of the gambling crazy people. In fact, after the imposition of UIGEA, there has hardly been any effect on online gambling, except for some arrests. He clearly pointed out that “Regulation” (like the one proposed through Barney Frank Regulatory Reform) is always better than a complete “Ban” on online gambling.


Shocking facts Revealed by Parry Aftab

Yes, Aftab has definitely given statistics for supporting his views. He has pointed out that around three million youths from America play online gambling games at least once every week. Moreover, it has been estimated that more than 6 million people online gamble every month at least once.
US gamblers are now playing in offshore casino websites to bypass the US legalities. Thus, Parry Aftab is leaning towards an online gambling regulation (as propounded by Barney Frank Regulatory Reform) rather than a complete ban.