ANOTHER CHANNEL TO REPEAL THE UIGEA OPENS UP
02nd February, 2011 at 02:32:52
Businesses invited to speak up on laws that hamper economic growth
A US government initiative to act against laws that are hampering economic growth may present the online gambling industry with the opportunity to strike a blow against the universally unpopular and growth-inhibiting Unlawful Internet Gambling Enforcement Act...and at least one pro-industry body has taken up the challenge.
Darrell Issa, chairman of the House Oversight Committee, has invited businessmen to submit suggestions on laws that are hampering economic growth and job creation in the States, and industry advocate The Safe and Secure Internet Gambling Initiative has communicated with the committee, naming the UIGEA, which disrupts online financial transactions with online gambling firms, as a prime example.
The SSIGI letter suggests that the US government repeals the law and instead introduces a system for the regulation and licensing of the pastime, popular with millions of Americans and capable of not only creating US jobs, but generating significant tax and business revenues.
SSIGI executive director Michael Waxman observed: "As you gather input on the various government regulations that have negatively impacted job growth, we would like to draw your attention to the opportunity to generate tens of thousands of new jobs and tens of billions in domestic gross expenditures should the federal government replace a failed attempt to prohibit Internet gambling with a system to legitimize the thriving activity."
The UIGEA was passed on the back of the Safe Port Act in 2006 and while it stopped short of criminalising online gambling, it put the emphasis on banks and financial institutions to block customer deposits and withdrawals from online gambling sites
As a result, many of the casinos on the AZOC online casino list
will no longer accept American residents and the US market has seen a huge rise in rogue and criminal outfits filling the place of legitimate businesses that were forced to pull out of the country.
Related News Tags: Usa Legislation, UIGEA, USA