FreedomAtStake's Blog

The lowdown on H.R 5767

By FreedomAtStake | View all Posts
Posted Monday, April 14, 2008 07:51 AM   2 comments
As suspected on Friday, the fact that there was no record of H.R 5767 was just a matter of time. Already this morning, the Library of Congress site has been updated to include the bill.

And what a bill it is!

Does it repeal the UIGEA? No.

But according to the text of the bill, it is meant "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, and for other purposes."

In other words, the UIGEA remains, but the Treasury is to be forbidden from enacting any of the provisions within the UIGEA.

Now, a word of warning... it is far too early to get excited about this.

This is just a bill, and like all bills (except the UIGEA) it needs to be debated and voted upon.

There are still a lot of folks out there who don't want to see online gambling in America, so the road ahead for this bill is a rocky one at best.

But - Hey! - it's a great start.
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CKlejdys says:
04/14/08 03:51PM
Great news...thanks for keeping us posted!
Sammy says:
04/14/08 08:40PM
Hey, it needs to start somewhere. Thanks for the update. All part of the process as the US heads down the path of regulation.
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User: Freedom@Stake
Joined: July 1995
Location: Nova Scotia
Team: Florida State Seminoles
Occupation: Media

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