During the previous Congress, Frank introduced HR 2046, the Internet Gambling Regulation and Enforcement Act, which established a full licensing and regulatory framework for the industry in the United States.
The public opinion is demanding the right to gamble online, which served as the impetus behind Frank’s decision to reintroduce legislation.
The UIGEA regulations were officially enacted on January 19th, 2009, one day prior to the swearing in of President Barack Obama.
The financial services industry must come into full compliance by December 1st, 2009, about one year after the regulations were approved by the U.S. Treasury and White House Office of Management and Budget.
You can read more at Pokernewsdaily.
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