According to a report by reuters.com, in the United States the implementation date of the internet gambling payment ban better known as the Unlawful Internet Gambling Enforcement Act, which was passed in 2006, has been delayed
six months.
In a joint statement today, the U.S. Treasury and Federal Reserve stated that the implementation date of December 1, 2009 would not be realistic for some financial institutions and that a new implementation date of June 1, 2010 has been set.
The six-month delay will also allow parties which are against either some or all aspects of UIGEA to have an extended window to have the act altered somewhat or dismissed altogether.
An excerpt from today's joint release says, "commentators expressed concern that the act and the final regulation do not provide a clear definition of 'unlawful internet gambling,' which is central to compliance."
Click here to the read the reuters.com article in its entirety.
(With files from reuters.com)