It is true that Barney Frank’s bill, the HR 2267 bill, passed. Recently, the HR 2267 bill was actually discussed in the U.S. House Financial Services Committee and it did pass with 41 to 22 votes.
The HR 2267 bill or the Gambling Regulation, Consumer Protection, and Enforcement Act was introduced by Frank back in May 2009. Frank did introduce the bill for the regulation of online gambling.
Of course, Frank wanted the bill to become a law. And now, it is close to becoming one after U.S. House Financial Services Committee passed it recently. It only needs to be reviewed and be approved by the Full House and the Senate for it to finally become a law.
The bill will be the solution to the problem on transferring of funds to and from offshore gambling firms that the Unlawful Internet Gambling Enforcement Act or UIGEA created. UIGEA actually stopped financial companies from transferring funds to and from offshore gambling firms.
Yes, recently, the HR 2267 bill was discussed in the U.S. House Financial Services Committee and it did pass with 41 to 22 votes. However, it passed after some amendments were made. One of the amendments to really mention actually promotes measure that bans online gambling operators that permitted U.S. players to play though the UIGEA was being implemented. These operators will not be qualified for a gambling license in case the Frank’s bill becomes a law.
Well, Frank and many others who are also in favor of regulating online gambling must be happy with U.S. House Financial Services Committee passing the bill. It was good for it meant that the bill only has to pass the Full House and the Senate for it to finally become a law. It will become a law just after being reviewed and approved by Full House and the Senate.
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