With the Presidential race hotting up, it is good to see issues related to Internet gambling coming out in the open. Four Republican Congressmen have sent an open letter to the heads of the Federal Reserve Board and U.S. Treasury requesting them to engage in greater discussions before finalizing the regulations for the implementation of the UIGEA.
Above all they want an unambiguous and legal definition of “unlawful Internet gambling”. The Congressmen are not against the UIGEA but claim that the vagueness in the language of the bill has led to several concerns being voiced.
The Congressmen have also pointed out that there is disagreement on the true cost of implementation of UIGEA between the backers and the detractors of UIGEA. This issue also needs resolution. Hence the congressmen have proposed that the following steps be included in the process. The rulemaking process should be headed by an Administrative Law Judge and a Regulatory Flexibility Analysis on the UIGEA’s true financial burden upon affected businesses be conducted. This is the first time Republicans have openly spoken against the proposed mechanisms.