UIGEA Regs To Be Published "Soon"
Published: Tuesday, July 17, 2007 Online-Casinos.com
UIGEA REGS TO BE PUBLISHED 'SOON'
Watch the Federal Register for public comment in the near future
When the Unlawful Internet Gambling Enforcement Act was rammed through the US Congress at a late night sitting last year, attached to the coat tails of a security Bill, there was a provision through which the Federal Reserve and the Department of Justice were tasked with coming up with enforcement regulations within 270 days (see previous Online-Casinos.com/InfoPowa reports)
That deadline was passed earlier this month and the regulations are still not available.
IGN approached the U.S. Federal Reserve this week and received the following official comment:
"The Unlawful Internet Gambling Enforcement Act of 2006 requires the Department of the Treasury and the Board of Governors of the Federal Reserve System (in consultation with the Department of Justice) to jointly prescribe regulations for designated payment systems and financial transaction providers that implement certain provisions of the [UIGEA].
"The Agencies anticipate that proposed regulations will be published in the Federal Register for public comment in the near future."
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