Frank zips it on UIGEA repeal

Rep. Barney Frank is buttoned up about his plans to repeal the U.S. Unlawful Internet Gambling Enforcement Act for the time being, but promises to release more details on possible legislation in the coming weeks.

The chairman of the House of Representatives Financial Services Committee recently announced that he planned on trying to revoke what he called one of the "stupidest laws" ever passed.

In an interview with Reuters news service Thursday, Frank said he wants to do some consultation without hurrying to reveal his strategy.

"I'm not ready to give you more details, but I will be by next week or so. We'll talk more about it later. There's no urgency on it," he told Reuters.

So far Frank has yet to draft a bill or establish a timeframe for action on the issue, according to a spokesman for the Democrat.

Frank has been a longtime critic of the October bill, widely unpopular with the gaming industry for effectively banning Internet gambling in the U.S.

The Massachusetts congressman's suggestion in the past was to legalize and regulate online gambling in the country, to the financial gain of the government.

courtesy of Erin Warner

News Added: 19 March, 2007

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