On Friday, Nov. 27, the Department of the Treasury and the Federal Reserve Board on Friday announced they had delayed implementing the Unlawful Internet Gambling Enforcement Act regulations by six months to June 1, 2010.
The French National Assembly passed legislation outlining new online gambling regulations. While the legislation opens up the French market to foreign operators, it contains several provisions that the online gambling industry find objectionable.
A companion bill to Rep. Frank's legislation to license and regulate online gambling, this act would levy a 2% fee on all deposits that licensed online gambling operators would have to pay to the U.S. government.
To amend title 31, United States Code, to provide additional clarification with regard to the implementation of the Unlawful Internet Gambling Enforcement Act of 2006, and for other purposes. (Bill would prevent the U.S. from prosecuting gaming companies and executives who stopped offering their services to U.S. customers after the UIGEA passed.)
To amend the Social Security Act to establish a trust fund with proceeds from the taxing of Internet gambling to provide opportunities to individuals who are, or were, in foster care and individuals in declining sectors of the economy.
To prohibit the Secretary of the Treasury and the Board of Governors of the Federal Reserve System from proposing, prescribing, or implementing any regulation under subchapter IV of chapter 53 of title 31, United States Code (UIGEA), and for other purposes.
These regulations add the Isle of Man and the Island of Alderney to the list of U.K. approved jurisdictions. As a result, online gambling sites licensed in those jurisdictions could legally advertise in the U.K.
These notes, prepared by the Department of Culture, Media and Sport in the U.K., help explain the 2005 Gambling Act, which set up the regulatory and licensing framework for Internet gambling in the U.K.