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February 27, 2009 Online Casino News: Go
Barney!
It would seem that Barney Frank has
chosen his time to make his move and it
is next month. Frank has long been an
online casino proponent, and now with
the new administration it appears that
he is ready to move forward with
legalizing the online casino industry.
Frank has worked for years to try and
get the government to overturn the
Unlawful Internet Gambling Enforcement
Act, or UIGEA. He tried to stop the
latest round of regulations for the
banking industry that pertained to the
online casino industry, but was
unsuccessful in doing so. However he is
of the belief, as are many Americans,
that with President Barack Obama on the
case that the online casino industry may
soon find themselves in the favor of the
government again.
But next month Frank is introducing
legislation that will overturn the UIGEA
if it is approved. The timing could not
be better as the US is now looking at
possible penalties and sanctions for not
complying with the World Trade
Organization’s ruling for them to come
into compliance with their trade
agreements. The European Union has also
just finished their investigation
regarding the United States’ position on
the online casino industry.
They have found that the US is in
violation of trade agreements as well
and they have given them a grace period
to correct the issues before they take
it to the WTO. Frank is hoping that all
of this will cause the US to see that
the legislation that he is proposing to
get rid of the ban on the online casino
industry is timely and worth
considering.
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