On the first day of June, the financial services industry in US should in line with the regulations of the Unlawful Internet Gambling Enforcement Act (UIGEA).

As the Executive Director of PPA, John Pappas, come out on camera from their headquarters in Washington, DC saying, “As you know, the Poker Players Alliance was successful in delaying implementation of these final regulations.” The officials coming from the U.S. Treasury and Federal Reserve gave a six-month delay with the compliance for June 1 since November. In the interval, the regulations of UIGEA were explained and cleared. But, there’s only one committee hearing took place and no movement take off.

Pappas claimed, “Unfortunately, we haven’t had much success legislatively, but the PPA hasn’t stopped. We have filed another petition that support of 22 members of Congress. We’re working to get broader support. This petition isn’t a delay, per se, but it would exempt poker and other peer-to-peer gaming from the enforcement of the UIGEA.”

Some players are rushing to withdraw their money thinking that major banks will not process online poker dealings on June 1st.

On May 19th, the House Committee on Ways and Means is going to conduct a hearing to revaluate several tax proposals that are relevant to internet gambling. It was first scheduled at 10:00am ET, but later moved to 9:30am ET. The witnesses for the hearing will be proclaimed on Monday and the due process will be held in Room 1100 of the Longworth House Office Building.

The said hearing will be discuss by Congressman Jim McDermott’s (D-WA) HR 4976, it will cover the Internet Gambling Regulation and Tax Enforcement Act.

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