Update on UIGEA regulations
Mastermind
Senior Member
The info below is from another site that I have followed and has been ahead of the curve on a number of topics related to the pending new regs. The site has been wrong on a few things, but right on many others.
A member of the Poker Players Alliance Board of Directors, Rich Muny has just spoken that he's gotten word the regulations for the UIGEA will be issued this week. The President of iMEGA, Ed Leyden also emailed us confirming this news as well. You will find slight discrepencies in time frames but in general both seemed to agree on deadlines and that regs are going to be out no later than this week.
Following the release of the regulations there will be a 60-90 day comment period. Following that there will be a 120-180 day time frame for a "comment re-evaluation" period essentially meaning up to another 9-12 months before finalized and amended regulations are in effect. Both sources sounded confident in their remarks.
So what does this mean for poker players? Short term, nothing. In 7-12 months depending on how strict the regulations are and if a temporary restraining order is granted or not to iMEGA, deposit options will likely begin to tighten even more than they are now.
A member of the Poker Players Alliance Board of Directors, Rich Muny has just spoken that he's gotten word the regulations for the UIGEA will be issued this week. The President of iMEGA, Ed Leyden also emailed us confirming this news as well. You will find slight discrepencies in time frames but in general both seemed to agree on deadlines and that regs are going to be out no later than this week.
Following the release of the regulations there will be a 60-90 day comment period. Following that there will be a 120-180 day time frame for a "comment re-evaluation" period essentially meaning up to another 9-12 months before finalized and amended regulations are in effect. Both sources sounded confident in their remarks.
So what does this mean for poker players? Short term, nothing. In 7-12 months depending on how strict the regulations are and if a temporary restraining order is granted or not to iMEGA, deposit options will likely begin to tighten even more than they are now.