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Poker Players Alliance issues statement applauding UIGEA Regulation Delay
- 11-27-2009
The Poker Players Alliance (PPA), the largest poker advocacy group win the U.S, today issued an official statement lauding the decision taken by the Treasury Department and the Federal Reserve to delay the deadline for enforcement of the UIGEA for another six months.
Both, the Federal Reserve and Department of Treasury have officially extended the deadline for UIGEA enforcement until June 1, 2010, after accepting a petition filed by the PPA, the National Thoroughbred Racing Association and the American Greyhound Track Operators Association, with the intention of giving lawmakers and financial institutions more time to clarify a series of definitions mentioned in the UIGEA, and to develop policies and procedures to ensure the law's compliance.
“The PPA is extremely pleased with the decision by the Federal Reserve and Treasury to grant the six month extension. This is a great victory for poker, but an even greater victory for advocates of good and fair public policy. These additional months are critical to provide legislators time to clarify UIGEA and pass legislation to license and regulate poker early next year. It is our hope that another extension would be granted should the deadline approach before these pieces of legislation can be passed.â€Âsaid PPA Chairman and former Senator Alfonse D’Amato.
In addition, the PPA announced that they will to continue with their supporting efforts in the Congress to pass two bills introduced by Barney Frank and intended to license and regulate online poker in the United States.
“PPA is continuing its efforts to urge members of Congress to implement thoughtful and effective regulation of the online poker as opposed to outright prohibitions, which history has shown do not work. We are thankful to our co-petitioners the National Thoroughbred Racing Association and the American Greyhound Track Operators Association and for the dozens of members of Congress who voiced their support for this petition through letters to Secretary Geithner and Chairman Bernanke. The PPA looks forward to working with regulators and legislators to pass legislation that protects consumers and the great game of poker.†added D’Amato.
Both, the Federal Reserve and Department of Treasury have officially extended the deadline for UIGEA enforcement until June 1, 2010, after accepting a petition filed by the PPA, the National Thoroughbred Racing Association and the American Greyhound Track Operators Association, with the intention of giving lawmakers and financial institutions more time to clarify a series of definitions mentioned in the UIGEA, and to develop policies and procedures to ensure the law's compliance.
“The PPA is extremely pleased with the decision by the Federal Reserve and Treasury to grant the six month extension. This is a great victory for poker, but an even greater victory for advocates of good and fair public policy. These additional months are critical to provide legislators time to clarify UIGEA and pass legislation to license and regulate poker early next year. It is our hope that another extension would be granted should the deadline approach before these pieces of legislation can be passed.â€Âsaid PPA Chairman and former Senator Alfonse D’Amato.
In addition, the PPA announced that they will to continue with their supporting efforts in the Congress to pass two bills introduced by Barney Frank and intended to license and regulate online poker in the United States.
“PPA is continuing its efforts to urge members of Congress to implement thoughtful and effective regulation of the online poker as opposed to outright prohibitions, which history has shown do not work. We are thankful to our co-petitioners the National Thoroughbred Racing Association and the American Greyhound Track Operators Association and for the dozens of members of Congress who voiced their support for this petition through letters to Secretary Geithner and Chairman Bernanke. The PPA looks forward to working with regulators and legislators to pass legislation that protects consumers and the great game of poker.†added D’Amato.