Barney Frank Still Trying To Clarify UIGEA With New Bill

Barney Frank is not as much for Internet gambling as he is trying to clarify a law that was put in place in 2006. While he is certainly in favor of regulating the online gambling industry, he also is seeking to fix the ill-advised law.

The Unlawful Internet Gambling Enforcement Act was thrown into a Bill that had nothing to do with Internet gambling back in 2006. The UIGEA was aimed at eliminating online gambling, but instead, it has just confused anyone trying to figure out what it means.

Even the people that voted in favor of the law have no idea how to enforce it. Frank has repeatedly tried to introduce legislation that would clarify the law. This week, he proposed his latest Bill that would make the law easier to understand.

According to Thursday's Bill, The Federal Reserve and the Department of the Treasury would work with the U.S. Attorney General's office to create a formal process that would define exactly what illegal online gambling is.

Lawmakers have been told by both financial institutions and Federal officials that they have no idea how to enforce the law. Lawmakers have been slow to make this clarification for the financial institutions.

Frank has been opposed to the Internet gambling ban from the beginning. He feels that regulating an industry that will exist regardless of what laws are put in place is the correct solution. He has proposed several different Bill that so far have all been denied.

September 12, 2008
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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