Kyl unhappy with regulation delays

[bartongrl1]

I have heard that if a democrat gets the presidential election this year that the UIGEA has a much better chance of being overturned. I would most certainly hope that this is true.

Sen. Jon Kyl, R-Ariz., said the regulations are a year overdue, according to the 2006 prohibition statute.

"The longer it goes the less certainty there is," said Kyl, who was the first lawmaker to launch an effort to ban Internet gambling in 1996.

"I mean, the people who are violating the law need to know that they're not going to be able the get away with it, and I think that the failure to get these regulations promulgated on time has perhaps given some hope, and it's given life even to an idea over in the House of Representatives to put a moratorium on the regulations," Kyl said.

Kyl was referring to a bill introduced April 11 by Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee, and Rep. Ron Paul, R-Texas.

By: Tony Batt

The banking industry sure doesnt seem to be happy with the regulations that the feds want implemented. It would take so much time, effort and money on the banks part to implement this that it could take years before everything would be in place.

Kyl not happy