The US Treasury has bowed to pressure and agreed to suspend the implementation of the Unlawful Internet Gambling Enforcement Act for at least six months. The news was welcome across the board by those who have been acting for years to see the United States introduce a legalized and regulated online gambling industry.

“The Department of the Treasury and the Federal Reserve Board of Governors deserve a great deal of credit for suspending these midnight regulations promulgated by the Bush administration which would curtail the freedom of Americans to use the internet as they choose and which would pose unrealistic burdens on the entire financial community,” said Barney Frank, who has fought tooth and nail to introduce safe, regulated online gambling legislation for years. “This will give us a chance to act in an unhurried manner on my legislation to undo this regulatory excess by the Bush administration and to undo this ill-advised law.”