Its been 270 days and.......?

As armas · #1 08-30-2007, 04:18 PM

Just checked and it was around last September 30th 2006 that this forum erupted over the Frist bill. So its been
over 270 days since the justice deparment was supposed to
clarify to the banks exactly how the bill was to be enforced, yet I've heard nothing. Did I miss it or are they
being lazy over there/quietly deciding to just not deal with it?

redbeard · #2 08-30-2007, 05:16 PM

basically it is pretty hard to find reliable information regarding this subject. when they are published there will be a 90 day comment period for the general public to respond as i understand it. so even if they came out tomorrow there would be another 3 months before they took effect. a very reliable poster on this site said about 10 days ago that the regulations were delayed again and it would be 2 to 3 more months before they come out. please don't accept this as the gospel but i'd be surprised if they were out and in effect before the end of the year (but again i'm only speculating).

Skallagrim · #3 08-30-2007, 05:47 PM

No news is good news.

joeker · #4 08-31-2007, 12:55 AM

Yeah Federal gov, go figure

DeadMoneyDad · #5 08-31-2007, 04:14 AM

[ QUOTE ]
basically it is pretty hard to find reliable information regarding this subject. when they are published there will be a 90 day comment period for the general public to respond as i understand it.

[/ QUOTE ]

Any rules created will be published in the Ferderal Register. Then there is a comment period, potentially revisions if not then a final rule published.

D$D

SteelWheel · #6 08-31-2007, 04:27 AM

I'd lay 3/1 that 270 days from today there will still be no regulations drafted pursuant to enforcement of UIGEA.

joeker · #7 08-31-2007, 01:12 PM

[ QUOTE ]
I'd lay 3/1 that 270 days from today there will still be no regulations drafted pursuant to enforcement of UIGEA.

[/ QUOTE ]

I agree

DeadMoneyDad · #8 08-31-2007, 01:32 PM

[ QUOTE ]
I'd lay 3/1 that 270 days from today there will still be no regulations drafted pursuant to enforcement of UIGEA.

[/ QUOTE ]

I'm not sure the lack of rules is a good thing. With the Gov'ts actions against Netteller, and getting Visa out of the pre-paid market, they have in effect stopped a good deal of the "new cash" flow into on-line poker.

Any regulations they would publish would be tested for loopholes, this way they have scared the major players out of the market and convinced a portion of the population that playing poker on-line is illegal.

Any regs we are likely to see would be a step forward in enforcement against the next level the e-wallets. The way the law reads it would seem that they could force banks to sever ties with the major e-wallets without any liability.

D$D

Legislurker · #9 08-31-2007, 01:52 PM

[ QUOTE ]
[ QUOTE ]
I'd lay 3/1 that 270 days from today there will still be no regulations drafted pursuant to enforcement of UIGEA.

[/ QUOTE ]

I'm not sure the lack of rules is a good thing. With the Gov'ts actions against Netteller, and getting Visa out of the pre-paid market, they have in effect stopped a good deal of the "new cash" flow into on-line poker.

Any regulations they would publish would be tested for loopholes, this way they have scared the major players out of the market and convinced a portion of the population that playing poker on-line is illegal.

Any regs we are likely to see would be a step forward in enforcement against the next level the e-wallets. The way the law reads it would seem that they could force banks to sever ties with the major e-wallets without any liability.

D$D

[/ QUOTE ]

They are just going back to the good old days of the early 00s. Revolving shell companies to process deposits. Uncoded transactions. Get tagged, move on. GIft card doesn't work today, will tomorrow. Bodog has been sitting on nucharge a while. No one is stopping epass. Its just more expensive. They have hotlines. And as for NFL season and the books, I doubt they have much of a drop off. Higher net worth people do the books and they have no problem setting up foreign bank accounts, or doing their own wire transfers, getting WU fees reimbursed. Had a talk with a well off guy today who missed Neteller. Zero problems getting a wire transfer to a book. He says he will jump thru however many hoops he has because he trusts the big books more than local bookies. The FBI and DoJ will be like two little Dutch boys with fingers in the dykes. Unless they are willing to engage in Net terrorism and hax poker sites to cut them off from the US, it wont stop.