For months, concerns have been expressed by U.S. financial institutions and members of Congress about the ambiguous nature of the UIGEA. The government doesn\’t know how to enforce it, and banks don\’t know how to comply.
Rep. Barney Frank has been one of the most outspoken members of Congress on this issue, as he feels his own bill – HR 2046 – would be more appropriate to regulate online gaming rather than attempt to ban financial transactions to the sites.
Today, there is a Congressional hearing entitled \”Proposed UIGEA Regulations: Burden Without Benefit?\” taking place on Capitol Hill. The Poker Players Alliance has a live stream of the hearing on their website.
Click here to check it out. (Beware: There are long periods of silence when the hearing goes to recess between panels.)
UPDATE: The hearings seem to be over, but the written testimonies are available at the link above.