Following the successful subcommittee meeting, "Proposed UIGEA Regulations: Burden without Benefit?" that took place on April 2nd, the chairman of the House Financial Services Committee Representative Barney Frank, has teamed up with Financial Services Committee member Representative Ron Paul to co-introduce a new bill that would effectively block enforcement of the Unlawful Internet Gambling Enforcement Act. This exciting bill (H.R. 5756) if enacted will forbid the Secretary of the Treasury and the Federal Reserve from "proposing, prescribing, or implementing any regulation under subchapter IV of chapter 53 of title 31." Representatives Frank and Paul see this bill as a necessary step, given the now apparent unworkability of the UIGEA.

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