UIGEA Regulations Soon?

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Published: Monday, October 01, 2007 mgowanbo.cc

Feds may have finally produced long delayed regulations

It appears that the way overdue regulations to support the US Unlawful Internet Gambling
Enforcement Act may be imminent, judging by courtroom indications and a recent report from Bloombergs business news.

The first indication that the US Treasury and the AG's Office may have finally managed to get their act together on the regulations came during oral arguments in last week's court case launched against the US government by iMEGA.

Judge Cooper heard oral arguments, and reportedly asked penetrating questions of government legal representative Jacqueline Coleman Snead and a strong iMEGA team.

One of the arguments that the government offered to counter the iMEGA request for a restraining order on the Act was that it was not yet 'ripe' because the regulations had not been finalised.

Under questioning from the judge, Snead is alleged to have said that good progress had been made and the regulations would be soon available for implementation.

The US enforcement and treasury authorities were tasked by Congress with drawing up regulations for the somewhat sketchy UIGEA within 270 days of its passing into law last October following a controversial passage through a late night session of Congress just before a recess, attached to the coat tails of an unrelated but 'must pass' security bill.

Bloombergs has now reported that the AG and Treasury authorities are currently drafting the regulations.

These will presumably give teeth to the UIGEA, although the mere fact of its passing late last year has arguably already caused the worst scenario damage, with companies exiting the US market and investor and corporate damage and job losses amounting to billions across the planet.

The advent of the regulations will also once again underline the discriminatory path that US law has taken as it applies to online gambling, something it is currently trying to negotiate away with World Trade Organisation partner nations after it lost its dispute with the Antiguans.

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