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March 18, 2008
Online bingo industry observers following developments in the US regarding US policy towards online gaming will be encouraged by the news that House Financial Services Committee Chairman Barney Frank's proposal to regulate and tax online gambling has now garnered its 47th supporter. Barney Frank’s proposal, Internet Gambling Regulation and Enforcement Act (IGREA), is a direct attempt to change the current Unlawful Internet Gambling Enforcement Act (UIGEA) which currently restricts international gaming operators from engaging in financial transactions with US-based customers. The implementation of UIGEA in late 2006 devastated the international online gaming industry and hurt many online bingo halls and online bingo games operators in the process. Many online bingo operators withdrew from the US market as a result. IGREA has been gaining steady support as an alternative to UIGEA due to its regulatory approach that would see substantial tax gains for the US government instead of the criminalization of many online gaming companies. The 47th IGREA co-sponsor is Congressman Tim Bishop of the First District of New York State. He claims his political priorities as fighting for the rights of middle class families and seniors, strengthening education, safeguarding the environment, and securing the homeland. Written by John Witherspoon – Come and read all about the online bingo world. BingoStreet’s online bingo news section serves the freshest info of the industry.
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