Congressman Barney Frank to repeal the US online gambling law
After weeks of rumors that
Congressman Barney Frank (D-Mass), who is the chairman of the
House financial services committee, is working on repealing the
Unlawful Internet Gambling Enforcement Act (UIGEA), the
Financial Times today published on their website, and was later
confirmed by his department, that the Congressman indeed has the
full intentions of removing this law from the books. He has also
been quoted to call the law " stupidest law ever passed".
There have been no details
released to the specific actions that would be taken by the
Congressman or as to the timeframe of those actions. It is also
unsure if Congressman Frank would get the support needed to
overturn this bill. The US Treasury is currently working on the
ways of implementation of the UIGEA, which are expected to take
shape this summer.