Treasury gave an assurance that the UIGEA regulations will not be further postponed
Online gambling's arch enemy, the Republican senator from Arizona Jon Kyl, apparently chose a potent and successful tactic to ensure the UIGEA regulations are not delayed beyond June 1st. His blocking of key US Treasury appointments during approval hearings (see previous InfoPowa reports) resulted in an assurance from Secretary to the Treasury Tim Geithner that no further postponements of the controversial regulations would be permitted.
Congressman Barney Frank, a tireless campaigner for the regulation and taxing of online gambling in the United States, revealed details of the Kyl power-play this week in an interview with the publication Poker News.
"It appears the power play by Sen. Jon Kyl (R-Ariz.) in blocking President Obama's Treasury nominees from taking office worked, strong-arming Treasury Secretary Timothy Geithner," the publication reports, quoting Frank as saying: "Geithner promised he won't delay the bill again because Kyl was holding up all the nominees."
Kyl lifted his block in early February, apparently after getting what he wanted from Geithner.
Poker News reports that Frank isn't concerned about the development. He believes that, in the long run, UIGEA regulations going into effect will help to eradicate the flawed legislation rather than just delay it.
"It's fine with me," Frank said. "I think it's frankly so dumb and oppressive that it will create support to repeal the bill. I think, once it goes into effect, banks are going to raise hell and all the bankers will go to the Senate to complain."
Franks's own HR2267 bill seeking to regulate online gambling in the USA is currently supported by a bi-partisan group of 66 Washington DC politicians and is expected to be presented for mark-up soon.