UIGEA’s 270-day grace period passes

11:39 am July 11, 2007 | posted in Bingo News

Today sees the passing of 270 days since the Unlawful Internet Gambling Enforcement Act was signed into law by the President of the United States, and the deadline by which the Secretary of the Federal Reserve System, in consultation with the Attorney General, must set down regulations to identify and block restricted online gambling transactions.

Whether or not the Federal Reserve and the Attorney General will stick to this deadline remains to be seen. As well as how long US citizens will have to wait for the US Government to reveal how it intends to restrict their rights to spend their money on innocent and leisurely online gaming activities. Any major announcements by the Federal Reserve in regard to this matter will be reported here.

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