- This topic is empty.
-
Posts
-
Republican elder statesman underlines the dangers of rushed UIGEA regulations
November 10, 2008 (InfoPowa News) — CNet News published a guest column at the end of October 2008 that is of considerable interest to the online gambling industry. Authored by Republican economist and elder statesman Dick Armey of the FreedomWorks advocacy group, it presents a chilling picture of government overreach and the consequences to Net Neutrality.
In the article, titled “The Midnight Regulation Rush is On!“, Armey alerts readers to the actions of U.S. Treasury officials in “quietly pushing through new rules that potentially will have devastating consequences for privacy and e-commerce.
“It’s an understatement to say the Internet has done more to shape society over the last 10 years than any other technological innovation, transforming communications, business, and entertainment. The benefits generated by the technological revolution easily parallel those of the earlier industrial revolution. What’s important is that this explosion in growth occurred in an era relatively free of government interference. Unfortunately, that may not remain the case,” Armey writes, cautioning that the Treasury Department should be cautious in its Internet gambling rules.
Setting the scene, he goes on to opine that regulatory incursions onto the Internet are becoming more frequent, threatening the open dynamic that has generated so much for consumers.
“Without vigilance, we face the prospect of turning the Internet into something akin to an electronic version of the Post Office rather than the engine of growth it has become,” he says.
“This can be seen in Congress’ attempt to eliminate unlawful Internet gambling. Not only does the Unlawful Internet Gambling Enforcement Act of 2006 raise serious questions about privacy, but its vague definitions and poorly defined goals force banks and payment centers into a tight position.
“[The financial institutions] are now required to serve as an arm of the government, monitoring private Internet transactions, and blocking those that are ‘illegal’,” Armey writes.
